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In our effort to help our partners and clients in this stressful time of the Coronavirus disease (COVID-19) pandemic, we bring you relevant news and updates regarding government policies that have been introduced to help businesses deal with the challenges resulting from the global health crisis.

Amidst the uncertainty of the pandemic, the only thing certain and in our control is to stay connected, positive and help each other to our best of abilities. Thus, here is a list of curated and reliable information from trusted sources.

Latest updates

On Business & Financial Policies

Interest Rate Cut

Canada’s Central Bank made another unscheduled rate cut Friday to bring its key interest target down to a crisis-level low of 0.25%, while the Federal Government upped its financial lifeline to businesses in a two-pronged effort to combat the economic shock from COVID-19.

For detailed information, visit, ctvnews


On Business & Financial Policies

Canadian Government Introduces Canada Emergency Response Benefit (CERB)

To support workers and help businesses keep their employees and protect the economy, the Finance Minister Bill Morneau, announced the Canada Emergency Response Benefit (CERB) on March 25, 2020.

Canada Emergency Response Benefit (CERB)

  • Taxable benefit to provide $2,000 a month for up to four months for workers who lose their income due to COVID-19 pandemic
  • Cover Canadians who have lost their job, are sick, quarantined, or taking care of someone who is sick with COVID-19
  • Cover working parents who must stay home without pay to care for children who are sick or at home because of school and daycare closures
  • Cover wage earners
  • Cover contract workers
  • Cover self-employed individuals not eligible for Employment Insurance (EI)
  • Cover workers who are still employed, but are not receiving income because of disruptions to their work situation due to COVID-19
  • Cover people who have ceased working due to COVID-19, whether they are EI-eligible or not


  • Canadians would begin to receive their CERB payments within 10 days of application.
  • CERB would be paid every four weeks and be available from March 15, 2020 until October 3, 2020.

For detailed information, visit, Govt. of CANADA 

Immediate Financial Assistance to Small Businesses

Immediate Financial Assistance to Small Businesses by Northwest Territories Business Development and Investment Corporation:

  • Defer Loan Payments for up to 3 months between April 1, 2020 and September 30, 2020, without penalty or additional interest charges. Businesses are automatically approved and not required to demonstrate financial hardship or impacts resulting from the COVID-19 crises.
    Deadline for requests for payment reductions/deferments: To be sent to the appropriate Department of Industry Tourism and Investment regional office on or before 24th day of the month prior to the payment date.
    For detailed information & instruction, visit,
  • Working Capital Loans: Low-Interest Loans to Business Operators
    Loans of up to $25,000 (or more if the need is clearly addressed) are being made available to qualified NWT businesses at a rate of 1.75%. Loans will be amortized for up to five years with options for payment deferment.

To be eligible, business owners will need to,
i)  Reside in the NWT
ii) Demonstrate financial need due to cash flows issues resulting from the COVID-19 crises. 

Please note, priority will be given to businesses with fewer than 20 employees but the GNWT will consider applications from businesses with up to 50 employees.
Important Dates:
• Loan application form will be posted on : March 23, 2020
• First intake of loan application: April 3, 2020
For detailed information & instruction, visit,