TORONTO, Feb. 1, 2021 /CNW/ - Scotiabank announces that it
is ready to accept applications for the new Highly Affected Sectors
Credit Availability Program (HASCAP) developed in connection with
Business Development Bank of Canada (BDC). Canadian businesses whose
revenues have been deeply impacted by the pandemic can now apply
for HASCAP, providing low-interest loans of up to $1 million dollars for up to ten years, helping
qualifying businesses finance day-to-day business operating
costs.
"Scotiabank is proud to collaborate once again with the BDC and
the Canadian government to make programs like HASCAP available to
those businesses that have been most impacted by the pandemic,"
said Dan Rees, Group Head, Canadian
Banking for Scotiabank. "Scotiabank remains committed to supporting
the economic recovery of Canadian businesses as we look to a future
beyond this pandemic with confidence and optimism."
HASCAP is available to eligible businesses across the country,
in all sectors, that have been hit hard by the pandemic. Building
on the support available through the BDC programs announced in
2020, this assistance program is structured to extend support to
those who previously applied to the Canadian Emergency Wage Subsidy
(CEWS) and/or the Canadian Emergency Rent Subsidy (CERS). The
HASCAP is structured as a term loan of up to $1 million
dollars, 100% guaranteed by BDC. For more details on eligibility
criteria, clients are asked to contact their Scotiabank Small
Business Advisor or Business Banking Relationship Manager.
For more details on the HASCAP program and for information on
Scotiabank's support for Canadian businesses, please visit:
https://www.scotiabank.com/ca/en/personal/scotia-support/business-banking.html.
Scotiabank stands behind Canadian
businesses
Scotiabank's support for eligible Canadian
Business Banking and Small Business clients affected by COVID-19
include:
- Access to the Highly Affected Sectors Credit Availability
Program (HASCAP);
- Online application for the Canada Emergency Business Account (CEBA);
- Online application for the Canada Emergency Wage Subsidy (CEWS);
- Support through the Business Development Bank of Canada (BDC) financial relief program;
- Support through the Export Development Canada (EDC) financial
relief program;
- Continued access to Small Business Advisors and Business
Banking Relationship Managers for customized advice.
For more information on our customer assistance programs for
individuals and businesses, please visit Scotiabank.com.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our
purpose: "for every future", we help our customers, their families
and their communities achieve success through a broad range of
advice, products and services, including personal and commercial
banking, wealth management and private banking, corporate and
investment banking, and capital markets. With a team of over 90,000
employees and assets of approximately $1.1
trillion (as at October 31,
2020), Scotiabank trades on the Toronto Stock Exchange (TSX:
BNS) and New York Stock Exchange (NYSE: BNS). For more information,
please visit http://www.scotiabank.com and follow us on
Twitter @ScotiabankViews.
SOURCE Scotiabank