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ARTICLE · 01 APRIL 2020

COVID-19 Impact: Government Funds For Businesses

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The Government of Canada recently announced Canada's COVID-19 Economic Response Plan, which includes a comprehensive set of economic measures to help combat the economic effects of the COVID-19 ...

CanadaCoronavirus (COVID-19)
Noble C. Chummar
Noble C. Chummar
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The Government of Canada recently announced Canada's COVID-19 Economic Response Plan, which includes a comprehensive set of economic measures to help combat the economic effects of the COVID-19 pandemic. The plan will provide up to $27 billion in direct support to Canadian workers and businesses and $55 billion in additional liquidity, mostly in the form of tax deferrals for businesses, to help stabilize the Canadian economy and boost consumer confidence during this pandemic. Additional funding is expected to be provided as the situations evolves.

Here are the federal programs that can support your business:

  • Changes to the Canada Account: The Canada Account is administered by Export Development Canada and is used to support exporters deemed to be operating in the national interest. The changes to the Canada Account will allow the government, through the Minister of Finance, to provide additional support to Canadian businesses through loans, guarantees or

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