CIBC announces support for SMEsBy The IJ Staff | March 20 2020 02:34PM
CIBC announced March 19 that it has implemented extended assistance and support measures to help SMEs experiencing financial hardship as a result of COVID19 disruption.
The bank says it is offering “proactive, focused solutions” to help reduce the financial pressure being felt by Canadian small business owners, including payment deferrals. It also has an expanded call centre team staffed by small business lending experts to help SMEs with payment deferrals or other measures. The bank will also be offering small businesses increased advice on immediate cash management or new lending needs.
"Small businesses are the backbone of our local communities and the Canadian economy," said Laura Dottori-Attanasio, Senior Executive Vice-President and Group Head, Personal and Business Banking, CIBC. "In these unprecedented times, we understand the financial strain some small business owners are feeling and we're committed to working together with them to provide immediate relief and support."