Support for business Affected by COVID-19
Dear  Comox Valley Chamber   member,
In the last two days, we’ve received over 2300 responses to the chamber network’s  COVID-19 Business Impacts Survey  on
Above all else, business are asking government for three things:
  1. To work with banks and lending institutions to offer zero-interest loans, loan guarantees, or lines of credit
  2. To be more flexible around timelines for tax remittances
  3. To enhance EI access or wage replacement for employees

Over the weekend we took your feedback to government.  They are working to remove red tape and get cash flowing to the business community.

In the meantime, some immediate measures have been announced to assist with your liquidity, operational concerns, and business continuity plans.

Our network has compiled a list of these measures on the  BC Chamber of Commerce website. This   will be updated on a regular basis.

Here is a sample of what you’ll find there:

·           BC Hydro:  The  COVID-19 Customer Assistance Program  provides the option to defer bill payments or arrange for flexible payment plans with no penalty. Call BC Hydro's customer team at 1 800 BCHYDRO (1 800 224 9376) to discuss options.
·          CMHC  is working to address  mortgage payment difficulties . They’ve said on  twitter  that they are collaborating with lenders to allow payment deferral of up to six months.

·          Export Development Canada (EDC) . In partnership with the federal government and Canadian banks, EDC will ensure customers impacted by COVID-19  have access to credit.

·           Business Development Bank of Canada (BDC)  has  resources available  including: 

  • Small Business Loan: Up to $100,000 can be obtained online in as little 48 hours from time of approval. 
  • Working capital loan: Get extra funds to bridge cash flow gaps and support everyday operations. 
  • Purchase Order Financing: Increase your cash flow to fulfill domestic or international orders with very flexible terms. 

Please reach out to our Chamber team if you have any questions or need help navigating the information. We are here for you.

Kind regards,
Dianne Hawkins, CEO

Thank you for staying in touch with The Comox Valley Chamber of Commerce. The Chamber sends a regularly scheduled Newsletter every second Thursday. From time to time, we will also send emails about important issues facing the business and/or local community, surveys, and information about upcoming events and E-Blasts. You may unsubscribe at any time.