The South Huron Chamber of Commerce (SHCC) supports and advances the interests of the business community in South Huron and area. Through advocacy and outreach we help the business community to thrive and make South Huron a better place to work and live. We are a non-profit organization financed by or membership dues and fundraising. Our volunteer Board of Directors is comprised of local business members and community stakeholders.
“Serving as a voice of South Huron business promoting economic growth, increasing community prosperity and pride”
Access to credit
Establishing a Business Credit Availability Program
We established a Business Credit Availability Program (BCAP) to provide $65 billion of additional support through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC).
BDC and EDC are working with private sector lenders to coordinate on credit solutions for individual businesses, including in sectors such as oil and gas, air transportation, exportation and tourism.
This program includes:
Canada Emergency Business Account
The new Canada Emergency Business Account will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.
To qualify, these organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019.
Loan Guarantee for Small and Medium-Sized Enterprises
EDC is working with financial institutions to issue new operating credit and cash flow term loans of up to $6.25 million to SMEs.
Co-Lending Program for Small and Medium-Sized Enterprises
BDC is working with financial institutions to co-lend term loans to SMEs for their operational cash flow requirements.
Eligible businesses may obtain incremental credit amounts of up to $6.25 million through the program.
These programs will roll out in the three weeks after March 27, and interested businesses should work with their current financial institutions.
Click HERE to learn more about BUSINESS CREDIT AVAILABILITY PROGRAM (BCAP)
Click HERE for more SUPPORT TO BUSINESSES