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For immediate release

 

COVID-19: 71.3 M$ AND MEASURES TAILORED TO THE NEEDS OF REGIONAL SMES

 

Quebec City, May 13, 2020 - The Réseau des SADC et CAE is delighted to be able to deploy in the next few days the financial assistance granted to us by the Government of Canada as part of the Regional Economic Recovery Fund (FARR). As announced today by Minister Mélanie Joly, to whom we would like to express our sincere thanks once again, a total of $71.3 M$ will enable CFDCs and BDCs to help businesses in every region of Quebec cope with this extremely difficult period.

Our efforts will focus on supporting local businesses and services, as well as the tourism businesses that create the economic dynamism of our regional towns and villages.

Assistance will take the form of loans on advantageous terms, as well as technical assistance and specialized expertise in areas such as adapting to health measures, developing financial continuity plans to prepare for the future, and adopting technologies for online commerce. The 67 members of the Network will also be able to implement or collaborate on collective visibility initiatives for businesses and local purchasing promotions.

"The many discussions with Minister Mélanie Joly and her team, as well as the collaboration with Canada Economic Development for the regions of Quebec, have paid off," says Daniel Dumas, President of the Réseau des SADC et CAE. "We have been listened to, and the terms and conditions in place target the problems expressed to us by businesses in the field".

As they have for the past 40 years, CFDCs and BDCs will be there to help their communities face up to this crisis and once again become attractive and prosperous places to live for their citizens.

 

ABOUT THE SADC AND CAE NETWORK

The Réseau des SADC (Sociétés d'aide au développement des collectivités) et CAE (Centres d'aide aux entreprises) is a network of 57 SADCs and 10 CAEs that have been working for nearly 40 years to promote economic development in their communities. Over 1,400 professionals and volunteers support and finance more than 10,000 entrepreneurs and local economic development projects every year. SADCs and CAEs provide entrepreneurs with personalized, sustained support and flexible financing products tailored to their needs. www.sadc-cae.ca

 

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For further information, please contact Hélène Deslauriers, Special Advisor, Réseau des SADC et CAE

Tel.: 418-563-1096

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