North Island-Powell River MP Rachel Blaney

North Island-Powell River MP encouraged by business developments

North Island-Powell River MP Rachel Blaney says some of the most poignant stories during the coronavirus pandemic have concerned businesses in her riding and across the country.

She is encouraged by government’s decision to expand the Canada Emergency Business Account (CEBA) to include payrolls starting at $20,000.

The CEBA provides interest-free loans up to $40,000. If paid off in a certain amount of time, government will forgive 25 per cent.

“So $10,000 could be forgiven,” Blaney said. “There’s no interest tied to this at this time.”

She notes the limit to apply had been $50,000 in payroll costs, which was beyond the reach of seasonal or smaller businesses.

“We’re glad to see that go down to $20,000. One of the challenges that we are seeing in the riding is that organizations and businesses that are connected to local Credit Unions have not been able to access this.”

She said the program was initially rolled out only with larger banks. However, the Finance Ministry has said it will bring Credit Unions up to speed.

Similar to the CEBA is the Indigenous Business Support of $306 million to allow companies to access short-term interest-free loans and non-repayable contributions.

“This is a little more inclusive, and there’s businesses across our riding that will benefit from this,” Blaney said.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Cumberland signs on for region’s compost program

The Village has been involved with a pilot compost program since 2012

Cumberland council supports cannabis delivery changes

Letters to Village point to need for online order, direct delivery during pandemic

Comox Valley RCMP impound six vehicles in six days in May

All drivers were found to be going at least 47 km/h over the speed limit

Cumberland water plant costs come in higher than planned

Extra costs result of delays, Hydro requirements and right of way access

Boil water notice lifted in Union Bay

The notice has been lifted as of May 27.

11 new COVID-19 cases in B.C. as top doc urges caution amid ‘encouraging’ low rates

Dr. Bonnie Henry also announced that two care home outbreaks would be declared over

Comox Valley business map offers information on local eateries, grocery stores and more

Search and click for hours and services offered during the COVID-19 pandemic

Facing changes together: Your community, your journalists

The COVID-19 pandemic has changed the world in ways that would have… Continue reading

Dr. Bonnie Henry announces official ban on overnight kids’ camps this summer

New ban comes after talking with other provincial health officials across the country, Henry says

Senior man in hospital after unprovoked wolf attack near Prince Rupert

Conservation officers are on site looking for the wolf

VIDEO: NASA astronauts blast off into space on SpaceX rocket

Marks NASA’s first human spaceflight launched from U.S. soil in nearly a decade

‘I knew what he wanted’: Kootenay man spends hours in tree as black bear patrols below

Francis Levasseur is no stranger to the outdoors, but a recent run-in with a bear caused quite a scare

PHOTOS: U.S. cities brace for increasing unrest over police killing of George Floyd

Minnesota Gov. Tim Walz has fully mobilized the state’s National Guard

$200,000 Maybach impounded after ‘L’ driver caught excessively speeding in Vancouver

Meanwhile, the supervisor sat in the passenger seat, police said

Most Read