This is an unprecedented moment in our lives, and we continue to be committed to the well-being of our tenants, clients, vendors, agents and staff during this difficult time. The challenging and dynamic issue has caused significant disruptions and we are working with our stakeholders to take precautions to protect the health and safety of everyone affected. Information on the current health crisis and resources available continues to evolve at a rapid pace. Please check this page regularly as we will post updates as they become available.
Last Updated: March 30, 2020
HOW WE ARE SUPPORTING OUR TENANTS AND CLIENTS
We will continue to provide property management services to all of the Shindico managed properties and the repair/maintenance line of 204-928-8230 will continue to be monitored on a 24-hour basis.
FINANCIAL RESOURCES AVAILABLE FOR TENANTS
The Government of Canada has announced several initiatives to support businesses during this health crisis.
Canada's coordinated approach to supporting the economy and the financial sector includes the Governor of the Bank of Canada cutting the interest rate to 0.25% and the Superintendent of Financial Institutions announcing an additional $300 billion in lending capacity by the major banks.
- a Business Credit Availability Program (BCAP) to help Canadian businesses in all sectors and regions to obtain financing during the current period of significant uncertainty. The new Small and Medium-sized Enterprise Loan and Guarantee program will enable up to $65 billion in lending to Canadian businesses through:
- The new Canada Emergency Business Account will provide funding to eligible financial institutions so that they can provide interest-free loans in the form of lines of credit of up to $40,000 to businesses with payrolls of less than $1 million. A quarter of this loan (up to $10,000) is eligible for complete forgiveness.
- The Canada Revenue Agency will defer tax payments until August 31, 2020, to help businesses with cash flow
- Allow businesses, including self-employed individuals, to defer all Goods and Services Tax/Harmonized Sales Tax (GST/HST) payments until June, as well as customs duties owed for imports.
- A wage subsidy of up to 75% for any business that has seen it’s revenue decreased by at least 30%.
- a new Emergency Care Benefit of up to $900 biweekly for up to 15 weeks for self-employed people and others who are not eligible for EI sickness benefits
- increased credit available to farmers and the agri-food sector through Farm Credit Canada
If you are a tourism operator, a small business or an organization affected by COVID-19 and need pressing assistance, the regional development agencies (RDAs) could assist you with access to federal funding and services.
Canada’s six biggest banks have announced their commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges. Please contact your bank’s local branch office to discuss the options available to you.
HOW WE ARE SUPPORTING OUR EMPLOYEES
We are closely monitoring advice from the Canada’s Public Health Services, the World Health Organization and provincial authorities and providing regular updates to all our employees. We have asked all employees to cooperate in taking steps to reduce the transmission of communicable diseases in the workplace. Recommendations include:
- Avoiding non-essential travel
- Wash your hands frequently with warm, soapy water for at least 20 seconds. (Run through happy birthday twice)
- Cover your mouth with tissues whenever you sneeze, and discard used tissues in the trash immediately.
- Stay home when you are sick and seeking medical attention as needed.
- Avoid people who are sick with respiratory symptoms.
- Clean frequently touched surfaces at least daily.
- Avoid large groups (concerts, sporting events)
We have asked our employees to work from home where possible and only come into the office when necessary. Employees are encouraged to use video and telephone conferencing instead of face-to-face meetings as much as possible during this outbreak.
Specific information on COVID-19, including updates, travel advice, being prepared and symptoms and treatment is available on the Government of Canada website.
We hope that we can help you to feel at ease during this unique time. Please reach out with any questions and stay well.
We will get through this difficult time together. Stay safe everyone.