HERE IS A MESSAGE FROM OUR HOTEL ASSOCIATION OF CANADA

Dear Members,

As you have seen, the government is working with the Business Development Bank of Canada (BDC) to develop liquidity options for affected industries. They are being rolled out as we speak. Here is some new information from BDC. Small and medium-sized enterprises (Smes – defined as 499 employees or less) can access up to $100,000 in 48 hours.

The Business Development Bank of Canada (BDC) announced:
• Small Business Loan: Quickly access the funds you need. Up to $100,000 can be obtained online in as little as 48 hours from approval.
• Working capital loan: Obtain additional funds to close cash gaps and support day-to-day operations.
• Purchase order financing: increase your cash flow to meet domestic or international orders under very flexible conditions.

For more information, including direct access to an online loan application, see the following links: English | français

How to access government programs?
It can be difficult to understand how all these programs work and what is available. A support system has been put in place through Canada’s Regional Development Agencies (Rdas) to assist tourism operators, including hotels. Rdas can help access federal funding and counselling/guidance services to other available federal programs. Hotels that want more information can contact their local GDR office. Details and contact information can be found by visiting the following links:English | français

Other federal announcements are expected in the coming hours and days. Our team will closely monitor these announcements and provide members with an analysis of policies that will impact hotels.

HAC remains actively engaged with government officials to ensure that our Canadian hotels have a prominent place in the review of economic response plans.

Susie Grynol
President and CEO
Hotel Association of Canada

and

Xavier Gret
President and CEO
Quebec Hotel Association

Articles de référence - English, français, English, français.