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Briefing

New federal loan program for hardest-hit firms opens February 1

Businesses with revenues that have dropped at least 50 per cent year over year for a three-month spell can apply for financing of up to $1 million at their primary financial institution. Chains are eligible for up to $6.25 million. The Business Development Bank of Canada (BDC) will guarantee the loans, which will have terms of up to 10 years and a fixed four per cent interest rate. The Highly Affected Sectors Credit Availability Program (HASCAP) is open until June. (The Logic)

Ottawa’s domestic vaccine candidate plan derailed earlier than disclosed

The federal government learned that Chinese customs authorities were holding a shipment from CanSino containing doses destined for trials to be run by the National Research Council (NRC) on May 19, 2020, according to documents tabled in the House of Commons on Monday. The agency had announced the partnership a week earlier. The delay was first publicly disclosed on July 6, to a parliamentary committee. (iPolitics)

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