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Client Communication:

HASCAP (Highly Affected Sectors Credit Availability Program)

February 1, 2021

HASCAP offers government-guaranteed, low-interest loans of up to $1 million. Chains and multiple-location businesses could be eligible for up to $6.25 million.

HASCAP is available to all small and medium sized businesses with revenues decrease of 50% due to pandemic.

Terms of loans:

• low interest with a repayment term of up to 10 years

• up to a 12 month postponement of principal payments

• available until June 30, 2021

To be eligible:

• a year-over-year revenue decline of at least 50% in three months, within the eight months prior to their application;

• have previously applied for either CEWS or CERS; and

• have been financially stable and viable pre-COVID

Applications open: February 1,2021

Contact your primary financial institution to find out more.

Note: You can apply at one financial institution only.

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