Covid-19 Updates
June 14, 2020
Benefits on Masson Street
TO USE
PLEASE COME TO THE STORE WITH YOUR ID & YOUR ADDRESS
* The cashier will have in their possession a list of the Shiller Group's residential tenants on the Promenade Masson and will apply the credit to your order.
DETAILS OF THE OFFER
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$50 at Citron que c'est Bon, non-refundable, no cash value
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$50 at Méga-Vrac, non-refundable, no cash value and applicable on a single order
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Limit of one promotion per address
April 10, 2020
A helping hand from the Shiller Group
in these difficult times
We hope each of you are healthy and safe.
We are aware of the temporary financial difficulties you are facing as a result of this crisis.
We want to help reduce your immediate financial burden by offering $100 of food via credits / gift cards of $50 each applicable at Citron que c'est Bon et Méga-Vrac, two local merchants that we are happy to have on the Masson promenade.
We are proud to be part of Rosemont since 1954 and to support our community. Thank you for supporting local businesses.
SVP vous présenter en magasin avec une pièce d'identité et votre adresse.
DETAILS OF THE OFFER
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$50 at Citron que c'est Bon, non-refundable, no cash value
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$50 at Méga-Vrac, non-refundable, no cash value and applicable on a single order
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Limit of one promotion per address
March 31, 2020
Safety Measures
Dear Tenants,
We have been informed that certain ill-intentioned individuals are unfortunately taking advantage of the current situation to break into unattended premises in order to steal valuable equipment, particularly computer equipment.
While respecting the governmental instructions relating to COVID-19, we invite you to be very vigilant. Make sure the doors to your commercial space are locked, the alarm system is on, etc. We also suggest that you reach out to your insurer to confirm the extent of your insurance coverage.
We remain available to assist you if you have any questions.
Best regards,
The Shiller Group
March 30, 2020
New Aid Measures
FOR INDIVIDUALS
The new Canada Emergency Response Benefit (CERB)
This taxable benefit will provide $ 2,000 per month for up to four months to workers and self-employed workers who are losing their income due to the COVID-19 pandemic, whether or not they qualify for employment insurance.
Applicants will begin receiving their CERB payments within 10 days of submitting their request. The benefit will be paid every four weeks and would be offered from March 15, 2020 to October 3, 2020.
FOR BUSINESSES
GST-QST Remittance Deferral
In order to provide support for Canadian businesses during these unprecedented economic times, the Government is deferring Goods and Services Tax/Harmonized Sales Tax (GST/HST) remittances and customs duty payments to June 30, 2020.
Interest-free Loans
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.
Wage Subsidy up to 75%
75 percent wage subsidy for qualifying businesses, for up to 3 months, retroactive to March 15, 2020. This will help businesses to keep and return workers to the payroll.
More details on eligibility criteria will start with the impact of COVID-19 on sales, and will be shared before the end of the month.
https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html
March 26, 2020
Aid Programs
BDC
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Relief measures are to complement services offered by other financial institutions, with whom BDC will continue to collaborate.
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Applicants must demonstrate that business was viable prior to the impact of COVID-19.
RELIEF MEASURES:
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Postponement of payments for up to 6 months for existing BDC clients with total BDC loan commitment of $1,000,000 or less, contact account manager.
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For loans over $1,000,000, contact account manager for available solutions.
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Small business loan of up to $100,000
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Capital repayments can be postponed for the first 6 months.
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Up to 5-year terms.
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Eligible if revenue history of 24 months or more with good credit history and has reached the age of majority.
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Online application: https://www.bdc.ca/en/financing/business-loans/pages/small-business-loan.aspx
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Working capital loan
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Up to $ 2,000,000 ($100,000 or more).
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3-year term.
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Effective variable rate of approx. 3.30% (base less 1.75%).
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No capital repayment for the first 12 months.
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40% of loan payable over 24 months following the first 12-month period.
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60% balloon payment at the end of the 36-month period.
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Standard fees apply (loan processing, legal fees, waiting fees).
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Guarantees apply (determined on a case-by-case basis).
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Additional questionnaires & documents will be required for the application process.
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https://www.bdc.ca/en/pages/special-support.aspx?special-initiative=covid19
Business Credit Availability Program (BCAP)
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The federal government established the BCAP through which BDC and EDC will deploy $10B+ in additional support to qualifying businesses affected by COVID-19.
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Businesses may contact the BDC or EDC directly if already have a relationship. However, they are encouraged to first communicate with their existing lender (refer to above).
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For non-BDC or non-EDC clients, their current lender will suggest EDC and/or BDC after assessing their situation.
https://www.canada.ca/en/department-finance/economic-response-plan.html
Canada Emergency Response Benefit to help workers and businesses
Canada’s Regional Development Agencies (RDA)
For tourism operators or small/medium-sized businesses/organizations who have received RDA funding and are impacted by COVID-19.
RELIEF MEASURES:
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Additional funding and/or flexible arrangements.
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Determined on a case-by-case basis.
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Contact your local RDA office.
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Advice and pathfinding services to other federal programs and services available.
http://www.ic.gc.ca/eic/site/icgc.nsf/eng/07677.html
Chartered Banks
Businesses seeking financial relief who currently have existing facilities with a financial institution should first contact their account representative for an assessment of their situation.
RELIEF MEASURES:
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Most financial institutions are offering up to a six-month moratorium for mortgages, and the opportunity for relief on other credit products for businesses impacted by COVID-19.
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Case-by-case basis.
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Information to provide:
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Year-end external financial statements for the last 3 years.
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Latest available interim statements.
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Action plan.
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Additional questionnaires & documents may be required.
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For their businesses whose needs extend beyond what is available through their bank, their account manager will refer them to EDC and BDC for the Business Credit Availability Program (BCAP) and to IQ for the Concerted temporary action program for businesses, established by the Federal and Quebec governments last week.
Please contact your account representative
City of Montreal
RELIEF MEASURES:
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Business support hotline - Monday to Friday from 8 a.m. to 5 p.m. (514 394-1793).
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6-month moratorium on interest and capital for PME MTL loans.
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Contact account representative directly.
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https://montreal.ca/en/articles/covid-19-support-measures-montreal-businesses
https://pmemtl.com/en/actualities/covid-19-our-services-are-maintained
Concerted temporary action program for businesses
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Via IQ, the Quebec government put together an action plan for Quebec-based businesses whose liquidities have been impacted due to COVID-19.
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Applicants must demonstrate that business was viable prior to the impact of COVID-19.
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Proposed relief measures are to complement services offered by other financial institutions, with whom IQ will continue working.
RELIEF MEASURES:
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Loan guarantees on lines of credit or other business financing from a chartered bank.
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Intended for working capital
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Minimum intervention of $50,000.
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Must demonstrate that liquidity problems or shortfalls are due to supply chain issues or inability to deliver good & services.
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Excludes refinancing.
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Files will be reviewed on a case-by-case basis.
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Excludes businesses in the following industries:
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Arms manufacturing or distribution.
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Gambling.
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Tobacco or drugs other than pharmaceuticals.
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Activity whose main purpose is protected by the Canadian Charter of Rights and Freedoms (religion, politics, advocacy, etc.).
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Any activity deemed immoral.
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Additional questionnaires & documents will be required for the application process.
EDC
RELIEF MEASURES:
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Details still remain to be finalized but will likely include Purchase Order financing and some sort of Accounts Receivable insurance.
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We will provide update as details become available.
https://www.edc.ca/en/campaign/coronavirus-covid-19.html
Facebook Small Business Grants Program
RELIEF MEASURE:
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$100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries. We will provide update as details become available.
https://www.facebook.com/business/boost/grants
Fondaction
RELIEF MEASURE:
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3-month moratorium on capital and interests for portfolio businesses affected by COVID-19.
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Contact account manager directly.
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Fonds de Solidarité FTQ
RELIEF MEASURE:
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6-month moratorium on capital and interests for eligible businesses affected by COVID-19.
Contact account manager directly.
https://www.fondsftq.com/en/salle-de-presse/liste-communiques-de-presse/communique.aspx?nom=20200319-mesures-financieres-covid19 (in French only)
Hydro-Québec
RELIEF MEASURES:
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No service interruption for non-payment.
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As of Monday, March 23, administration fees for unpaid invoices for all customers are suspended.
https://www.hydroquebec.com/covid-19-en.html
Montreal Restaurant Workers Relief Fund
The aim of the Montreal Restaurant Workers Relief Fund (MRWRF) is to provide emergency economic relief to restaurant employees who are facing economic hardship due to COVID-19. MRWRF will provide aid by transferring direct financial relief to eligible applicants.
https://docs.google.com/document/d/1jDgXwFgtOZB8hhc2e5fgDBKdq46jjjKk3eBfl-c7Gko/mobilebasic
March 24, 2020
Government aid measures
Dear Tenants,
In this email, we have grouped together the various financial support measures that are currently offered to individuals.
We invite you to read them carefully.
Sincerely,
Shiller Group
Temporary aid for workers program:
https://www.quebec.ca/en/family-and-support-for-individuals/financial-assistance/temporary-aid-for-workers-program/
Royal Bank: Six major Canadian banks take decisive action to support their customers affected by COVID-19:
https://www.rbc.com/covid-19/business.html
Hydro-Québec announces measures to make life easier for its customers:
http://www.hydroquebec.com/business/covid-19.html
Revenu Québec: Easing measures for citizens and businesses (filing of tax returns):
https://www.rcgt.com/en/on-the-move/income-tax-returns-taxes-flexibility-measures-announced-quebec-government/
Aid to workers: Employment Insurance sickness benefits:
https://www.canada.ca/en/services/benefits/ei/ei-sickness.html
Canada's Economic Response Plan to Respond to COVID-19 - Support for Businesses and Canadians:
https://www.quebec.ca/en/family-and-support-for-individuals/financial-assistance/temporary-aid-for-workers-program/
Canada’s COVID-19 Economic Response Plan: Support for Canadians and Businesses:
https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html
Montreal Restaurant Workers Relief Fund:
https://docs.google.com/document/d/1jDgXwFgtOZB8hhc2e5fgDBKdq46jjjKk3eBfl-c7Gko/mobilebasic
March 24, 2020
Aid measures for
commercial tenants
group
Dear tenants,
We are writing to you in these difficult times to offer you our support as a lessor and business partner.
Your physical health and that of your clients remains the priority. We encourage you to comply with the emergency and partial containment measures put in place by the Government of Quebec, without exception.
We understand that your business will suffer economically from such a temporary closure.
In order to reduce the economic impact of this necessary measure, Shiller Group is putting forward the temporary financial assistance program below.
You can benefit from a rent deferral of one (1) month applicable on the base rent - or 50% reduction if you pay a gross rent - provided that you meet the following eligibility criteria:
1) Your business is not considered an essential service and your operations are suspended (restaurants will be eligible);
2) You are not a government entity, a financial institution and your annual turnover is less than $ 5,000,000; and
3) You have no rent arrears.
The rent deferral will be amortized over a period of twelve (12) last consecutive months from April 1, 2021, all without interest or penalty.
In the event that you do not meet these criteria, we invite you to request discretionary assistance. This will be treated with seriousness and speed.
For any questions, please contact Ms. Joanne De Luca, by email at joanne@shillergroup.com or by phone at 514-951-9134.
Remain vigilant and good luck,
Shiller Group
March 24, 2020
Temporary financial assistance program
for residential tenants
Dear Tenants,
We wish to offer you our support in these difficult times.
Your health remains the priority. We urge you to respect the emergency measures and partial confinement measures enacted by the Government of Québec, without exception.
We understand the financial impact that the COVID-19 may have on you.
As such, we have put in place a special financial program in order to help our tenants that are directly impacted by the COVID-19 crisis. Should you have unfortunately lost your employment and are struggling to meet your daily needs, please communicate with us so we may determine your eligibility to a temporary financial assistance.
All requests for assistance can be made by email at support@shillergroup.com. If you do not have access to an email account, please call us at 514-951-9134.
You will also find attached hereto a table summarizing the governmental assistance programs in place.
We kindly ask you to remain prudent and to accept our best regards,
The Shiller Group