Satellos Bioscience Inc Com V.ICO

Good news available financing COVID-19

[Keminor74]

https://www.lapresse.ca/covid-19/202005/20/01-5274276-des-dizaines-de-millions-en-financement-aux-grandes-entreprises.php


"There is no maximum per se, since each request will be assessed on a case-by-case basis, according to the company's cash flow needs for the next year, said the finance minister on Wednesday morning.

 

However, it is not yet clear when Canadian businesses will be able to receive federal funding. The money will be distributed "as soon as possible," said Minister Morneau.

 

 

Businesses will have to reimburse the state, the finance minister said. The loan is for five years and is repayable at any time. One fifth of the loan is considered a priority claim, while the rest is unsecured.