What impact is COVID-19 having on your business/work?
CIFST has posted some resources on our website to assist our members in navigating these challenging times.
Here is a link: https://www.cifst.ca/response-to-covid-19-pandemic/
Prime Minister announces support for farmers and agri-food businesses under Canada’s response to COVID-19
The Prime Minister, Justin Trudeau, today announced important new measures to support farmers and agri-food businesses in Canada facing financial hardship due to the impacts of the COVID-19 pandemic.
Farm Credit Canada will receive support from the Government of Canada that will allow for an additional $5 billion in lending capacity to producers, agribusinesses, and food processors. This will offer increased flexibility to farmers who face cashflow issues and to processors who are impacted by lost sales, helping them remain financially strong during this difficult time.
In addition, all eligible farmers who have an outstanding Advance Payments Program (APP) loan due on or before April 30 will receive a Stay of Default, allowing them an additional six months to repay the loan. This important measure, which represents $173 million in deferred loans, will help keep more money in farmers’ pockets during these critical months.
The Stay of Default will also provide farmers the flexibility they need to manage their cashflow when facing lower prices or reduced marketing opportunities. Applicable farmers who still have interest-free loans outstanding will have the opportunity to apply for an additional $100,000 interest-free portion for 2020-2021, as long as their total APP advances remain under the $1 million cap.
Personal Protective Equipment (PPE) Drive
You have probably heard or read that front line healthcare workers across the country are calling on other business sectors to contribute supplies to help the people treating and testing for COVID-19. This includes things like gloves, masks and gowns. Especially needed is the N95 mask.
More than 84,000 health care workers in Canada have signed a petition calling on the government to launch a “war-like” effort to acquire and manufacture PPE and other protective equipment using whatever means possible.
If you and/or your company are in the Greater Toronto Area and you have a supply of some of the required items mentioned above, you can drop off at Michael Garron Hospital in East York. Here is a website for more information: theppedrive.com
You can also e-mail Health Partners International of Canada and they will arrange to accept your donation of Personal Protective Equipment.
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