NEDC ANNOUNCEMENTS
Find the latest NEDC Announcements here.
NEDC is trying our best to ensure quality customer service during the challenges created by COVID-19:
- Although the NEDC office is closed to visitors at this time, we are pleased to continue offering service via phone and email. In-person meeting requests will be reviewed on a case by case basis.
- NEDC is still here for you and is currently continuing operations as normal as possible.
- With things changing rapidly please check back regularly for new information as it becomes available.
About Loans, Loan Payments and current Projects:
NEDC operations are running almost normally and we are here to support you and your business.
- All Applications for projects are still being processed.
- New Applications are being accepted.
- Loan Payments are still processed normally.
- Concerned about a Loan Payment?
- All payment changes will be reviewed upon request and solutions will be determined on a case by case basis.
- If you do not have enough funds to pay your payment, contract Sharon to pause automatic withdrawals to avoid any NSF fees, AND
- Contact your Business Development Officer and explain what is going on in your business to determine what options may be available.
- Communication with your Business Development Officer is always important and valued.
- Concerned about a Loan Payment?
COVID 19 Updates for Businesses
These updates include information we have received that may be useful to you and your business. This section will be updated as more information is received. If you find any great resources for this challenging time, please email them to serena@nedc.info.
Support Announced for Indigenous Businesses
Canada announced $306 million in support for Indigenous Businesses in the form of short term, interest free loans and contributions. NEDC will be able to provide this program to clients and new clients. Contact your Business Development Officer if you have any questions.
Canada Emergency Wage Subsidy (CEWS) for Employers (75% of wages)
Learn if you are eligible for 75% of your staff wages to be covered by the CEWS. Get help paying your employees and even hire back employees.
Canada Emergency Business Account (CEBA): $40,000 loan, up to $10,000 forgivable
This program is available through your bank for Business Banking customers who meet the requirements for T4 Summary wages and other specifications. If you have staff or pay yourself a salary from your business you should see if the opportunity for accessing the $40,000 loan since up to $10,000 is non-repayable if you can repay before December 31, 2021. If you need advice, call NEDC to talk to a Business Development Officer first.
Free Business Workshops for Managing Current Changes by Small Business BC
Small Business BC has been hosting an assortment of workshops with the goal of supporting businesses navigate these challenging times. They have made ALL of these FREE workshops available on their website to access when the time is best for you.
Canadian Emergency Response Benefit (CERB)
This is an emergency benefit for people who have lost employment and income due to the COVID virus. Self-employed individuals are eligible for this benefit. If you have lost you job or business due to COVID, check out this benefit that could provide $500 per week if you are eligible.
Tourism Updates & Resources
This is a list of resources from some Tourism specific organizations. Have a look at the information they are sharing and resources they may have available.
BMO Update: COVID 19 Emergency Support & CEBA $40k program
Below is an update from BMO about the COVID 19 Supports. See more information at: https://www.bmo.com/main/business/covid-19-business-support/