Noting that the COVID-19 outbreak is affecting every community, industry and business in Canada, Community Futures East Kootenay (CFEK) is providing a three-month Payment Relief Program to their clients, among other supports for local business.
“Community Futures offices across Canada have been working to develop and implement strategies to help entrepreneurs and small businesses cope with impacts of market disruption, business closures, travel interruptions and the need for social distancing in their communities,” said Sean Campbell, General Manager of Community Futures East Kootenay.
CFEK is offering a three-month Payment Relief Program to their existing clients while suspending any interest and waiving all fees until June 30th. Community Futures said they are contacting each of their clients with additional details about the program.
As well, CFEK is providing a special repayable term loan.
This emergency credit facility is aimed at helping entrepreneurs and small businesses remain operational during this exceptional time,” said Campbell. “Existing businesses in our service are eligible to apply for an emergency loan of up to $20,000 with limited security requirements, pragmatic terms and conditions, and a rapid response time.”
More: Community Futures East Kootenay COVID-19 (CFEK)
“We recognize that the businesses in our communities are vital and that they are vulnerable to the inescapable economic effects of this pandemic.”
CFEK said they are working with their partners, Chambers of Commerce, service providers, business associations, and all levels of government to respond to the growing needs of business communities.