How Might WE

Increase Your working Capital

We are centralizing ideas and tips from the pro's on an ongoing basis. Got an idea or information on increasing working capital in this environment? Message us and we will share the wealth !

What you can do for yourself

  • If you think you'll get a return on your 2019 Incomes or business tax - accelerate your refund.

  • Check your HST owing and if its negative - submit your return as quickly as possible 

  • Collect you receivables 

  • Assess grant and funding options for Northern Ontario to see if you can use this time to submit application for funding

Government Support

Support for entrepreneurs impacted by the coronavirus COVID-19 BDC stands ready to support companies through to a more stable period. As announced by the Minister of Finance, BDC put in place additional measures to provide relief for Canadian entrepreneurs. effective March 18, 2020, new relief measures for qualified businesses include:

New loan program for businesses - Manage your debt Burden! 

Canada Emergency Business Account, which will be implemented by financial institutions in cooperation with Export Development Canada. It will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced, due to the economic impacts of the COVID-19 virus.

To qualify, these organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019. Repaying the balance of the loan on or before Dec. 31, 2022 will result in loan forgiveness of 25 per cent (up to $10,000). 

Other components 

  • Working capital loans of up to $2 million with flexible repayment terms such as principal postponements for qualifying businesses;

  • Flexible repayment terms, such as postponement of principal payments for up to 6 months, for existing BDC clients with total BDC loan commitment of $1 million or less;

  • Reduced rates on new eligible loans;

  • Additional details regarding Business Credit Availability Program (BCAP) measures, including industry specific support, to be announced in the coming days.

What you need to know about the Business Credit Availability Program (BCAP):

  • Businesses seeking support through BCAP should first contact their financial institutions for an assessment of their situation.

  • Financial institutions will refer to EDC and BDC their existing clients whose needs extend beyond what is available through the private sector alone.

  • These new measures aim to alleviate the impact of COVID-19 on business activity and complement services offered by other financial institutions, with whom BDC will continue working. For BDC, eligible businesses needed to be financially viable entities prior to the impact of the coronavirus.

  • The deadline for businesses to pay any income tax amounts that become owing or due after March 18, 2020 and before September 1, 2020 has been extended to September 1, 2020. This means you will not be assessed any penalties or interest if your balance due is paid by September 1, 2020.

NECO - Nipissing East Community Opportunities


Due to the COVID19, NECO has morphed into virtual offices to continue to offer all programs. For existing clients with loans, payments have been deferred for six months. For new clients seeking new loans due to COVI-19 there is a simple four-page application. No business plan is required. Applicants just have to demonstrate what their need is, how they've been affected by COVID19, and how the funds will help them survive this (new, equipment, operating costs, inventory, marketing). New loans will come with 0% interest until September.


The Big Banks 

Canada’s six largest banks have announced a co-ordinated relief program to ease financial pressures due to the spread of COVID-19.

  • Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank customers will be offered “flexible solutions” to get them through economic uncertainties due to COVID-19.

  • COVID-19 relief measures will be offered to personal and small business banking customers and may include longer amortization periods, up to a six-month payment deferral for mortgages, and credit card payments.