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.
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. www.bit.ly/cca2620
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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