It is business as usual at the Community Business Development Corporation (CBDC) located at the Rural Action Centre on Main Street in Montague. However, the building is closed to the public during COVID-19.
CBDC assists in the creation of small businesses and in the expansion and modernization of existing businesses by providing financial and technical services to entrepreneurs.
“Staff are left to their own discretion to choose to come to the office or not,” says Martina MacDonald, Executive Director of CBDC East, Montague. “We are taking all precautions to maintain social distancing requirements set out by Health Canada.
“CBDC East gave all of our loan clients a three-month reprieve on payments, and interest for this time period will be forgiven,” says Martina. “It’s one less thing for CBDC business owners in Eastern PEI to worry about.
“Holly Fitzpatrick, Client Information Officer with the Rural Action Centre, emails weekly updated information to our clients, as public information keeps changing.
“As well, there are constant inquiries from clients about how to apply to government funded programs. We assist where we can through the steps of applying for programs through telephone conversations, because some programs are harder to access than others.”
“Small businesses are growing and prospering in Eastern Kings and they are the heartbeat of communities,” says Martina. “The public can best support local businesses by shopping local where possible and paying for purchases on time, as money will be in very short supply for most small businesses as a result of COVID-19.”
“I think about Winston Churchill’s quote, “Never waste a good crisis.” Look for opportunity and don’t give up. This will pass, and we can be stronger because of it both as a province and as a country.
“We, as service providers, will work diligently to soften the hardships of COVID-19. CBDC East is here with lending to assist where we can.”
Overview of programs, details, and on-line applications
Province: Overview of programs, details, online applications: click here
Federal: For individuals and businesses: click here
Government supports for businesses, the self-employed, and workers
Canada Emergency Response Benefit (CERB) – Employees and Self-employed receive $500 per week for up to 16 weeks. Application timing corresponds with your birth month. Click here
Special Situation Fund for businesses and organizations is a temporary program to support organizations significantly affected by COVID-19, which have an urgent need, and are not eligible for federal or provincial financial support. Click here
COVID-19 Business Adaptation Advice Program covers 100 percent of costs up to $2,500 for professional advice on how to adapt or recover from impacts of COVID-19: click here
COVID-19 INCOME SUPPORT FUND one-time payment of $750 to cover gap before federal supports kick in: click here
75 percent Wage Subsidy retroactive to March 15th: click here
Canada Emergency Business Account: Small and medium businesses, non-profits can receive up to $40,000 in interest-free loans; $10,000 will be forgiven if paid off by December 31, 2022: click here
For more information about the Rural Action Centre, click here
For more about CBDC, click here
For more information about government support programs contact Holly Fitzpatrick, Client Information Officer at the Rural Action Centre, Montague at 902-838-4030 or cell 902-313-0005.
by Stella Shepard