SLBDC announces emergency support loans for Lambton County businesses

Loans will require standard application but will be for six months no interrest, with payment escalating after

The Sarnia-Lambton Business Development Corporationis is encouraging clients to apply for an emergency support loan in addition to already announcer support from various levels of government.

Recognizing that in the current announcing that, in the uncertainty in the economy and recognizing that there have been several programs announced by the government to support businesses previously, business owners and managers to actively explore these options and to apply for the supports that they are eligible for. Information regarding these programs can be found on our website https://slbdc.com/covid-19-business-resources/ as well as on the Sarnia Lambton Economic Partnership website https://www.sarnialambton.on.ca/home/covid-19-resources-for-business

Eligible businesses interested in an emergency support loan will be expected to provide the SLBDC with a completed application and supporting documents. Maximum assistance under the program will be $50,000 to be used for operational costs, staff-related costs, and costs related to the return to operations for those who have been closed.

Loans will be provided at 0% (zero) interest for the first 6 (six) months and will be repayable on an interest-only basis for the subsequent 6 (six) months fixed at Prime + 3% (currently 5.45% effective rate), followed by a blended principal and interest payment for the following 4 years fixed at

For further information, contact Don Anderson, General Manager of the SLBDC, at 519-383-1371 or www.slbdc.com.

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