New measures include working capital, payment postponements and rate reductions.
Effective immediately, new relief measures for qualified businesses include:
- Working capital loans of up to $2 million with flexible terms and payment postponements for up to 6 months for qualifying businesses;
- Postponement of payments for up to six months, free of charge, for existing BDC clients with total BDC loan commitment of $1 million or less
- Reduced rates on new eligible loans
- Additional details regarding Business Credit Availability Program (BCAP) measures, including industry specific support, to be announced in the coming days.