For individuals who have applied and received these loans, and for all existing BDIC client, a three-month loan payment deferment or reduction initiative was also offered. This three-month period was initially identified as a time in which we would be able to gauge the extent of the problems facing our business community. I can advise the Member that, in response to demand from our clients, the BDIC is extending its deferral and/or payment reduction period to the end of this fiscal year. In total, this extension as estimated will save between $4.5 and $5 million in cash flow during the 2020-2021 fiscal year.
Katrina Nokleby on Question 297-19(2): Support for Entrepreneurs and Economic Development (SEED) Funding and Market Disruption
In the Legislative Assembly on June 4th, 2020. See this statement in context.
Question 297-19(2): Support for Entrepreneurs and Economic Development (SEED) Funding and Market Disruption
Oral Questions
June 4th, 2020
Page 1045
See context to find out what was said next.