Construction and Financial Briefing in Around Town

April 30, 2020

Your Weekly Construction Briefing

For this week’s Around Town, Building Links has rounded up some of the latest financial supports available to businesses and workers during the COVID-19 pandemic.

In this week’s Around Town, Building Links rounds up financial resources available to help you navigate the COVID-19 pandemic.

Reducing Fleet Vehicles: ICBC is waiving insurance cancellation and replating fees for BC drivers, including fleet vehicles.

Canada Emergency Commercial Rent Assistance (CECRA): The goverment announced a rental assistance plan for businesses. A 50% 3 month forgivable loan is available if the mortgaged property owner agrees to reduce rents by at least 75%.

Updated Protocols: The Canadian Construction Association has updated their Standard Protocol for Canadian Construction Sites to include the use of non medical face masks.

Canada Emergency Business Account (CEBA): Interest-free loans of up to $40,000 for businesses with a minimum payroll of $20K (max $1.5M). Repaying the loan on or before the end of 2022 will result in a loan forgiveness of 25 percent.

BC Emergency Benefit for Workers: The Province’s one time $1,000 emergency benefit application will be available as of May 1 and available to workers who qualify for the Federal CERB program.

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