NB Small Business Emergency Working Capital Program (Apr. 10, 2020)
Posted on behalf of CBDC Westmorland Albert (Community Business Development Corporation):
NB Small Business Emergency Working Capital Program
At the beginning of March, 2020 few Atlantic Canadians could have predicted how drastically our lives would have changed in a month. We’ve all been adjusting to a rapidly changing world, and for us that has looked like providing our services to small business clients while we work from home. For many small businesses in New Brunswick that has looked like reduced customers, increased uncertainty and difficult times.
While we’re still ironing out the growing pains of our staff working from home, know that we are always here for you and ready to meet your small business needs.To that end, based on our strong relationship with the Government of New Brunswick and our work within the small business community, we’ve been chosen to administer the Government’s Small Business Emergency Working Capital Program.
This program is designed to help provide relief to businesses as they responded to the challenges posed by COVID-19. Impacted small business owners can apply for working capital loans up to $100,000, they will not be required to pay interest for the first six months. Interest payments will be required in months 7-12 and principal and interest payments will begin in month 13.
During these challenging times we may be physical distancing, but we’re also coming together to support the small businesses that make this province thrive. If this working capital loan program could help your business during this difficult time, please contact us, we’re available online at www.cbdc.ca or by telephone at (506) 532-8312.