I wanted to provide a quick update on a new program outlined by the Province of New Brunswick yesterday.
The Government of New Brunswick Small Business Working Capital program has been released by the Province of NB and will be overseen by the CBDC offices in the various communities. The program can provide working capital to small businesses at a rate of 4% interest, with no payments for 6 months, interest only payments for 6 months and repayment of principal and interest on month 13.
Details of the program and how to apply can be found at this link:
The Province also announced that the Province will be reviewing Provincial loans on a case by case basis. As well, there are measures surrounding property taxes for businesses.
Further details can be found here:
Finally, individuals have until 8 pm on Thursday, April 9th to apply for the one time benefit of $900 from the Province of New Brunswick. Applications are now done over the phone. Details on how to apply can be found here:
Until next time,