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Small and medium-sized Montreal businesses to get $50 million in additional aid

Small and medium-sized Montreal businesses to get $50 million in additional aid
/ martinedoucet / E+ / Getty Images

This morning, Montreal Mayor Valérie Plante announced that small and medium-sized businesses in Montreal will receive $50 million in support from the provincial and federal governments as they emerge from the COVID-19 crisis.

The aid was confirmed Monday by federal Economic Development Minister Melanie Joly, provincial Economy, and Innovation Minister Pierre Fitzgibbon and Montreal Mayor Valerie Plante.

Facilitated by a group called SME Montreal, this COVID-19 relief will be distributed, to downtown businesses in the form of low-interest loans of up to $40,000 as well as grants.

Of the $50 million, $30 million will come from the federal government.

“We have left no stone unturned at the city of Montreal,” Valérie Plante said. “We are proud to have done the work that we have done. This help to entrepreneurs and business owners arrives in the nick of time and I’m convinced that we will continue working together as we do so well in order to find solutions that are efficient to problems that are very concrete.”

A sum of $40 million was previously granted to the Ville de Montréal through this program.

The original report came via The Canadian Press on June 8, 2020

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