COVID-19: No more emergency assistance programs for businesses

The Minister of Economy and Innovation of Quebec, Pierre Fitzgibbon, unveiled, Thursday, the terms surrounding the end of two business assistance programs put in place as part of the pandemic.

COVID-19: No more emergency assistance programs for businesses

The Minister of Economy and Innovation of Quebec, Pierre Fitzgibbon, unveiled, Thursday, the terms surrounding the end of two business assistance programs put in place as part of the pandemic.

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“Today, we are ending a chapter of a historic assistance program that will have helped thousands of businesses through the crisis,” Mr. Fitzgibbon said in a press release.

Businesses have until June 14, 2022 to submit their application if they wish to benefit from Emergency Aid for Small and Medium-Sized Enterprises (PAUPME) and the Temporary Concerted Action Program for Businesses (PACTE).

Those who have received a loan or a loan guarantee under these two programs will be able to convert the equivalent of 25% of the funding granted into a non-repayable contribution.

The non-repayable contribution made under the PACTE may reach a maximum of $40,000.

The moratorium for the repayment of capital and interest linked to the PAUPME is extended until December 31, 2022, it was specified.

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