COVID-19: more support for Quebec SMEs

COVID-19: more support for Quebec SMEs

The Quebec government announced on Wednesday new adjustments to the assistance measures put in place to support SMEs in the province during the pandemic.

The emergency aid program for small and medium-sized enterprises (PAUPME) and the temporary concerted action program for enterprises (PACTE) will thus be extended to allow the payment of aid to enterprises located in the red zone.

“The bonuses that we are announcing give oxygen to SMEs in all regions of Quebec. In addition, we have reduced application processing times to speed up payments to SMEs, ”the Minister of the Economy and Innovation, Pierre Fitzgibbon, said in a statement.

The latter notably provided for an additional envelope of $ 50 million for PAUPME, bringing its total amount to $ 300 million.

SMEs that already benefit from this program, and that take advantage of its Assistance to Regional Businesses on Maximum Alert (AERAM) component, will also be able to obtain additional financial assistance of up to $ 50,000.

SMEs that have been in business for at least six months will also be able to apply to these aid measures, which until now were only available to businesses that have been in business for at least one year.

Travel agencies and sports and leisure companies are among the new SMEs benefiting from these adjustments.

Thus, nearly 600 travel agencies in the province will be able to take advantage of the Tourism component of the PACTE, while physical training rooms in the red zone will be able to claim a loan pardon for the month of October.

These provincial financial assistance measures were put in place at the start of the pandemic in addition to the various emergency programs of the federal government.

Several groups and associations welcomed this increase in aid. Note the New Association of Quebec Bars, which indicated on Wednesday that the new measures partially respond to its requests and recommendations.

This is also the case with the Canadian Federation of Independent Business (CFIB), which encouraged the government to continue improving its programs, as certain requests from SMEs are becoming urgent, particularly with regard to the periods offered for the loan repayment.

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