After seeing their federal and provincial counterparts create special funds for businesses to stay afloat during the COVID-19 pandemic, municipal leaders in Cornwall moved quickly to create a “mini-stimulus” program of their own program for local merchants.
Mayor Bernadette Clement said she expects about 100 businesses to apply for the $5,000 interest-free loans.
The funds are intended to help businesses transition so they can continue to operate during the pandemic. For some, that may mean modifying their space to meet physical distancing requirements, Clement says. In other cases, businesses may want to invest in e-commerce capabilities.
“It was important ... that small businesses can have access to some cash as quickly as possible,” Clement told OBJ Regional’s Mark Van Dusen. “We’re going to take the risk with these businesses because they are part of what makes this community successful.”
Hear more about Cornwall’s efforts to support its small business community, as well as how the city’s economy has changed dramatically over the last two decades, by watching the video above.