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Bank Borrowing Facility Stress Test- A new program provided by HS & Partners LLP

COVID-19 has had a major impact on Canada’s banks with large loan loss provisions expected. The resulting tightening of lending parameters will see many Canadian businesses unable to obtain new borrowing or even renew current borrowing. Banks have initiated new, far more restrictive lending requirements BEFORE increases to credit facilities or establishing new relationships. This …

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Additional Support for Businesses

Expansion to the Eligibility Criteria for the $40,000 CEBA Today the government announced an expansion to the eligibility criteria for the $40,000 Canada Emergency Business Account (CEBA) to include many owner-operated small businesses, enabling them to access interest free loans that will help cover operating costs. The program will now be available to a greater …

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Introduction to our network of curated mortgage brokers

To those in need of Guidance for Refinancing- We are here to Help! Dear Clients & Friends, As the economic effects of COVID-19 continue, HS & Partners understands that many of our clients and friends of the firm are experiencing liquidity problems. We want our clients to know that we understand and are determined to …

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Commercial Rent Relief for Small Business

Commercial Rent Relief for Small Business Today April 4th, 2020,  the government announced that it has reached an agreement with provinces and territories to implement the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This program will lower rent by 75 %for small businesses that have been affected by COVID-19. Qualifying businesses are those …

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Applications for the 75% Wage Subsidy will be open on April 27

Applications for the 75% Wage Subsidy will be open on April 27     Beginning April 27, applications will be open for the CEWS. Most businesses may apply using My Business Account If you need our help to apply, we can assist you through our Represent a Client access portal Alternatively, you may apply using a separate online …

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New and Easier Life Insurance Applications done On-line

New and Easier Life Insurance Applications done On-line We at HS & Partners hope that you are all safe and healthy through these unprecedented times. The COVID-19 pandemic has turned our world upside down, as we practice social distancing, work from home, and wonder about the uncertainties of what we will be able to do in …

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Covid-19 Update on Expanded Benefits

Covid-19 Update on Expanded Benefits   Dear Clients & Friends, Today the Prime Minister announced new measures to support Canadian businesses: The $40,000 interest-free loans program (the Canada Emergency Business Account (CEBA)) criteria will be expanded to include businesses that paid between $20,000 and $1.5 million in total payroll in 2019. This new range will …

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How to apply for the $40,000 Canada Emergency Business Account (“CEBA”)?

How to apply for the $40,000 Canada Emergency Business Account (“CEBA”)? Announced earlier this month by the Federal government, CEBA is now available for qualifying businesses. Applications are made through your business’ primary financial institution. It provides an interest free loan of up to $40,000 to eligible businesses to assist with their immediate operating cash …

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Update on More Flexible Criteria for the 75% Wage Subsidy

Update on More Flexible Criteria for the 75% Wage Subsidy   Dear Clients & Friends, Today the Government announced the following amended criteria to provide greater flexibility for businesses to access the 75% wage subsidy (the Canada Emergency Wage Subsidy, or “CEWS”): To measure their reduction in revenue, it is proposed that all employers have …

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