Acting on recommendations from Restaurants Canada, the Government of Quebec has committed to provide financial support to businesses impacted by red zone restrictions imposed due to COVID-19.
Eligible businesses can now apply to the Emergency Assistance for Small and Medium-Sized Businesses program to receive up to $50,000 in emergency support.
The program provides loan forgiveness for up to 80 per cent of eligible core operating costs to a maximum of $15,000 per month of closure. This can be used to directly pay for fixed costs — such as rent, mortgage payments, insurance, utilities, etc. — which was a key recommendation from Restaurants Canada.
The program can be used in addition to any further eventual rent assistance from the federal government, which was also a key ask from Restaurants Canada.
Restaurants Canada has worked tirelessly over the last few weeks to secure government support to mitigate the extraordinary challenges that our industry is continuing to face due to the ongoing COVID-19 pandemic. This new program unveiled on Oct. 1 was welcome news and will go a long way to minimize the impacts of red zone restrictions.
If you have any questions or would like more information, you can get in touch with David Lefebvre, Restaurants Canada Vice President, Federal and Quebec, at DLefebvre@restaurantscanada.org.