BMO, Export Development Canada announce financial relief measures for small- and medium-sized businesses [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
BMO, Export Development Canada announce financial relief measures for small- and medium-sized businesses One of Canada’s largest banks and the country’s export credit agency are rolling out targeted relief for small- and medium-sized businesses amid mounting calls for help coping with the intensifying economic fallout from the new coronavirus. Bank of Montreal is offering to increase operating lines of credit for small businesses and advance funds to help ensure employers can make payroll. It is also promising to defer payments on loans, credit cards and credit lines for Canadian small businesses, while providing similar “tailored relief” for larger commercial clients that could include access to extra working capital. Medium-sized businesses are being offered one-on-one advice on options to maintain their liquidity. Starting Tuesday, Export Development Canada said it will support exporters by guaranteeing their bank loans up to $5-million, ensuring companies "can access more cash imm
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