CTV: The program will be created under the Business Development Bank of Canada and will provide “financing at favourable terms” to help businesses “address immediate pressures” and “adapt to future market conditions.”
The funding was not part of last week’s spring economic update.
Speaking to reporters, Joly said three-year loans will be provided for between $2 million and up to $50 million with zero interest during the first year. Low interest rates will then be applied in the subsequent years with no repayment required for the entire three-year loan period…