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.