The loans, to be administered by the Business Development Bank of Canada, are part of a package of federal credit programs Finance Minister Bill Morneau promised in late March.
Loan amounts will fall between $12.5 million and $60 million, with the Business Development Bank of Canada covering 90 per cent and a company's own financial institution the rest. The BDC advises companies interested in the program to reach out directly to their main financial lender, and work with them to determine if the program is a good fit and how to proceed.
"A lot of us will never forget where we were when the barrel hit negative," he said. "It was something that you never thought you'd see." O'Regan said the government's "eyes are wide open" to that fact so the loan programs are being designed to help.
Bill_Morneau IS A FAILURE!
Bill_Morneau YOU ARE A FAILURE!!!!
Sooner Canada goes bankrupt, the better for Quebecers that want to separate.