Highly Affected Sectors Credit Availability Program (HASCAP)
HASCAP is a government-guaranteed, low-interest loan for amounts between $25,000 and $1 million per legal entity, up to a maximum of $6.25 million for related entities, to cover operational cash flow needs. HASCAP applications opened in early Februrary, and will be available until June 30, 2021. These loans are intended for small and medium-sized businesses that have seen their revenues decrease by 50% or more as a result of COVID-19.
How to apply: Contact your primary financial institution to find out more. It is important to remember that you can apply at one financial institution only.
A list of participating financial institutions can be found here: https://www.bdc.ca/en/special-support/hascap#list
Tourism HR Canada, MDB Insights and OTEC announcement
Tourism HR Canada, MDB Insights and OTEC invite everyone who is an employer in the Tourism and Hospitality sector to shape the post-COVID future of Tourism & Hospitality. Here are some questions they are mulling over: How will the landscape change post-pandemic? How will we attract and retain skilled workers? How will the sector rise above perceived stigma? Feedback from you will assist in their predicting future challenges faced by the sector and recommendations on how to overcome them. Employers from all five distinct industry groups within the sector are encouraged to participate, including accommodation, food and beverage services, recreation and entertainment, transportation and travel services.
In order to register, they ask that you complete a brief survey. While they will involve as many individuals as possible in the follow-up focus group, they will select a representative sample of the industry from those who register.
For the full member communication, please click here.