COVID-19: Restaurants get additional financial help from Quebec to cope with losses

Stéphane Berimbere

 

Due to the consequences faced by restaurants with the new COVID-19 restrictions, Pierre Fitzgibbon, Quebec Minister of the Economy and Innovation and Minister responsible for Regional Economic Development, and Lucie Lecours, Quebec Delegate Minister for the Economy, announced new financial assistance for restaurants to mitigate the impact of the closure, implemented as of December 31, 2021.
 
"Health regulations have hit the foodservice industry hard. This additional financial support will help cover the costs of perishable products in preparation for the busy holiday season. If they haven't already done so, I invite the restaurant owners who will benefit from this assistance to distribute the unexpired food items to various food banks so that those in need can benefit," said Pierre Fitzgibbon, Minister of the Economy and Innovation and Minister responsible for Regional Economic Development.
 
Restaurants that benefit from the Assistance for Businesses in Regions on Maximum Alert (AERAM) are eligible for an additional non-repayable contribution of up to $10,000 per institution to cover the costs of unused perishable items.
 
“With the closure of restaurants, it’s important to provide our restaurant operators with the financial support they need to cover the food losses caused by the new restrictions. Our government is listening to them and being flexible. We will continue to be there to support them as the pandemic and health measures evolve"said Lucie Lecours, Delegate Minister for the economy.
 
Quebecers can also benefit from the Canada Worker Lockdown Benefit (CWLB), a new federal program for individuals who have lost their jobs as a result of a confinement directive, or from employment insurance.
 
AERAM is available to businesses that are eligible for the Small and Medium Enterprise Emergency Assistance (PAUPME) or Concerted Temporary Action Program for Businesses (PACTE). It allows establishments subject to closure orders to obtain a loan forgiveness of up to $15,000 per month (maximum of 80% of the loan amount granted) to pay certain eligible fixed costs:
 
-Municipal and school taxes;
-Rent;
-interest paid on mortgages
-utility costs (e.g., electricity and gas)
-insurance
-Telecommunication costs;
-licenses and association fees.
 
The Emergency Assistance for Small and Medium-Sized Businesses aims to support, through loans of less than $50,000, the working capital of SMEs with liquidity needs so that they are able to maintain, consolidate or restart their activities.
 
The Concerted Temporary Action Program for Businesses supports, through loans or loan guarantees of a minimum of $50,000, the working capital of businesses so that they can continue to operate.
 
This is in addition to “Opération main-d'œuvre”, which aims at remedying the labor shortage. The program focuses on attracting, training and retraining 170,000 people in the labour market. In all, $3.9 billion, including $2.9 billion in additional funding, will be invested to implement a series of flagship measures in six areas of activity in sectors of health and social services, education and early childhood education and care.

Photo: Pierre Fitzgibbon, Quebec Minister of the Economy and Innovation and Minister responsible for Regional Economic Development. He and Lucie Lecours, Quebec Delegate Minister for the Economy announced new financial assistance for restaurants to mitigate the impact of the closure, implemented as of December 31, 2021.