18 March 2020 – Additional financial support for small businesses and self-employed

Type of Intervention: Financial and Economic
Sectors Involved: Private Sector and Businesses
Level of Jurisdiction: PEI
Lead People/Agency: Premier Dennis King

Overview: New financial supports for Islanders was announced including:
– deferring all scheduled loan payments for clients of Finance PEI, Island Investment Development Inc., and the PEI Century Fund for the next 3 months;
– providing $4.5 million to Community Business Development Corporations across the province to deliver financing to small business and entrepreneurs; and
– a temporary allowance of $200 per week for anyone who has experienced a significant drop in their working hours.

Full details here: https://www.princeedwardisland.ca/en/news/province-announces-more-financial-support-islanders

Type of Justification: Learning from other jurisdictions