Federal Government Relief Programs For Small And Medium Enterprises

COVID-19 has had, and continues to have, a significant economic impact on the vast majority of Canadian businesses. Some of those most severely affected, many of whom are small and medium enterprises ("SMEs"), are already struggling to maintain adequate liquidity and working capital as the effects of COVID-19 continue to unfold. In response, the Government of Canada has implemented a number of programs delivered through the Business Development Bank of Canada ("BDC") and Export Development Canada ("EDC") to provide SMEs with access to liquidity and working capital to help ensure their long-term viability during these uncertain times. This bulletin will provide a brief summary on the following BDC and EDC financing support programs available to SMEs: