On Thursday, January 28, 2021, Minister of Small Business, Export Promotion and International Trade, Mary Ng, announced the launch of the Highly Affected Sectors Credit Availability Program, or HASCAP.
The program will provide financial support to businesses that have been hardest hit by the pandemic. The Business Development Bank of Canada (BDC) will work with participating Canadian financial institutions to offer government-guaranteed, low-interest loans of up to $1 million. HASCAP will help businesses with their day-to-day operating costs during the COVID-19 crisis and enable them to invest in their longer-term prosperity. HASCAP is available to businesses across the country, in all sectors, that have been hit hard by the pandemic. This includes restaurants, businesses in the tourism and hospitality sectors, and those that rely on in-person service.
To read more about this program please click here.
For more information, please contact your Lipton advisor.