COVID-19 message to members: federal and provincial government updates for April 16

Dear Members,

Today, Wednesday, April 16, the federal government announced:

• The expansion of the Canada Emergency Business Account to businesses that paid between $20,000 and $1.5 million in total payroll in 2019. This new range will replace the previous one between $50,000 and $1 million.
• Its intention to introduce the Canada Emergency Commercial Rent Assistance for small businesses.
• The Canadian Centre for Occupational Health and Safety has developed a series of pandemic guidance tip sheets for high-risk and essential workplaces.

This evening, the provincial government announced the following supports for the tourism sector:

• A $50 million tourism assistance loan facility through Finance PEI, with maximum financing of up to $1 million at 4 per cent interest available for working capital. Both the principal payments on the loan, as well as interest, will be deferred for the first 18 months.
• Interest relief on existing loans to tourism business for up to 18 months.
• $1 million towards expanded tourism marketing.
• The waiving the licensing, inspection and Tourism PEI advertising fees for the 2020 operating season. Those who already paid these fees for 2020 will be reimbursed.

Upcoming Chamber Live webinars include:

• Tomorrow, Friday, April 17 at 9:00 AM: HR employers guide in a pandemic and emergency crisis
• Monday, April 20: Employment law FAQs & carrying on business through COVID-19

As your Chamber, we are here for you and with you. As always, please reach out with your questions, comments and concerns.