A total of $4 million has been earmarked to support local SMEs in need of liquidity.
Boucherville, April 17, 2020 – Launched on March 31 by Quebec’s Ministère de l’Économie et de l’Innovation (MÉI), the Aide d’urgence aux PME program has officially been entrusted to DEL (Développement économique de l’agglomération de Longueuil), making it possible to lend a hand to companies affected by the COVID-19 crisis. A total of $4 million has been earmarked to support local SMEs in need of liquidity. In addition to existing financing and LED measures, this assistance takes the form of a loan of up to $50,000, at a rate of 3%, with a three-month repayment vacation on principal and interest.
At a special meeting of the Longueuil agglomeration council, the towns on the territory unanimously entrusted the management of this program to their economic development corporation.
Extra help
Already hard at work providing technical and financial support to some 2,000 manufacturing and industrial companies in its territory, DEL now has additional leverage to help them get through this particularly trying period: “Nearly 95% of SMEs contacted to date have informed us of a crying lack of liquidity. This emergency assistance will help mitigate the impact of this crisis on our companies’ finances,” explains Julie Ethier, DEL’s General Manager. In the early days of the current crisis, DEL introduced the new COVID-19 loan to provide a rapid solution for SMEs in need of liquidity. The Aide d’urgence aux PME program is a new addition to DEL’s service offering, tailor-made to support SMEs during the current economic downturn.
Submitting a request
The program is available to companies in all sectors of activity, as well as to cooperatives and social economy enterprises. Entrepreneurs wishing to take advantage of the loan are invited to visit the DEL website and complete a questionnaire to determine their cash flow requirements. The conditions of eligibility for this loan will be available on the DEL website in the next few days.
About DEL
Développement économique de l’agglomération de Longueuil (DEL) is a non-profit organization serving all cities in the Longueuil agglomeration. Its mission is to help local companies succeed by providing specialized business support and attracting investment, thereby generating significant economic and social impact for the region.
For more information: www.delagglo.ca/fr/
For further information, please contact
DEL
Catherine Beaudin
Director of Communications and Public Relations
450 645-1208 | [email protected]
