Coronavirus: Montreal rolls out financial measures to help Montrealers, businesses amid pandemic

In addition to relief measures put in place by the federal and provincial governments, the City of Montreal has a announced a set of financial measures of their own to help Montrealers affected by the novel coronavirus pandemic.

Postponing second installment of municipal tax payment

The city is pushing the deadline to pay your second installment of municipal taxes to July 2.

It was previously due June 1.

According to the city, this represents a third of its annual budget and $2 billion in liquidity.

 

Moratorium on the payment of loans offered by PME Montreal

Business owners who have a loan with PME MTL and with the Commercialization of innovations investment fund won’t have to make a payment for the next six months if necessary. No interest will apply; the city will absorb those costs.

This decision was taken in partnership with the Fonds de solidarité (FTQ), the province’s largest development capital network.

The city estimates the measure will bring relief to 700 local small and medium-sized businesses while providing about $6 million in liquidity for companies.

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