Association Hôtellerie Québec
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        Association Hôtellerie Québec

         

        100 – 450, Chemin de Chambly,

        Longueuil (Quebec), J4H 3L7

         

        Tel. : (579) 721-6215

        or 1 877 769-9776

        Fax : (579) 721-3663

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        Xavier Gret

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        xgret@hotelleriequebec.com

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        Nicolas Dufour 
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QUEBEC ANNOUNCES AN ADDITIONAL $150 MILLION TO HELP SMALL AND MEDIUM-SIZED BUSINESSES

Dernière mise à jour par Nicolas Dufour - 23 April 2020
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Dear hotel members,
The Québec government today announced $150 million in additional assistance for small and medium-sized businesses, accessible through the Emergency Assistance for Small and Medium-Sized Businesses program. This program is set up to support SMEs that are experiencing financial difficulties as a result of VIDOC-19 and needing less than $50,000 in cash for their working capital.
For more information, click on the following link.
These amounts are in addition to the Canada Emergency Benefit, the wage subsidy, the $12.5 billion in financing guaranteed by EDC and BDC, the Caisse de dépôt’s $4 billion emergency plan and Investissement Québec’s $2.5 billion.
We continue to work with our partners in the tourism industry, under the aegis of the Alliance de l’Industrie Touristique du Québec, to develop other assistance measures, particularly for our hotel operators.
Our AHQ President, Mr. Dany Thibault, was called this afternoon to a meeting of the Canadian Senate Finance Committee to propose concrete assistance measures, such as spreading assistance measures over a longer period of time for our hotel industry.
At a conference last night, Economy Minister Pierre Fitzgibbon acknowledged that our industry will need special attention:
We wanted to go to the most urgent need,” the minister replied, “we focused our efforts on immediate cash flow, regardless of the sector of activity. But there are no doubt that there will be other problems for the tourism and cultural industries. “said the minister.
“We can think about modulating the repayment of loans with the return to profitability and spread it out over several years or transforming loans into equity in the company, which would reduce the financial burden,” he proposed.
Weeks are going by, but we are continuing our efforts to ensure that you have the means to get through this particularly difficult period. We are also thinking about our small and medium-sized businesses, which is why we are proud of this morning’s announcement.
It is a step in the right direction, but even more measures still need to be implemented, particularly at the end of the crisis.

Have a good weekend, though. Spring is almost here.

Xavier Gret
Chairman and Chief Executive Officer
Quebec Hotel Association

Visit https://alliancetouristique.com/covid19 regularly.

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