Montreal Is Increasing Its Financial Aid For Businesses Affected By COVID-19 By 50%
Montreal business owners affected by the COVID-19 pandemic will soon be able to apply for a new round of financial aid.
The City of Montreal has increased its assistance by 50%, or by $600,000 for the organization of crowdfunding campaigns for the city's merchants.
These new funds will allow "eligible organizations to submit new grant applications."
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With the approach of winter, a generally more difficult period for commercial arteries, the need for liquidity of commercial enterprises in the agglomeration remains very real.
Luc Rabouin, Executive Committee Member responsible for Economic Development.
The funding will make it possible for businesses to submit new grant applications as of November 12, 2020, and will increase the financial resources available to merchants.
"Since the start of the crisis, the crowdfunding campaigns deployed by the SDCs and merchant associations [...] have made 15,000 citizens aware of the importance of buying locally," said Billy Walsh, president of the Montreal SDC Association.
"Merchants have benefited from more than $ 1.6M thanks to these initiatives and we are pleased that the City is injecting the necessary funds to continue the crowdfunding projects intended for merchants for the coming months."
Business owners who wish to know more about this program can contact city officials at 514-394-1793 or fill out this online form.
