Just two companies have been approved for Ottawa’s emergency COVID-19 loans. Where are the rest?
Only about a dozen companies have applied to Ottawa’s emergency loan program for large employers since it launched in May, with two having so far been approved. Is the program a failure or doing what it was designed to do, namely act as a loan program of last resort? Experts say it’s the latter, which then begs another question: If some of the sectors most impacted by the COVID-19 pandemic — including hospitality, tourism and aviation — can’t or won’t apply to the large employer loan program, what kind of financial assistance do they hope to get from the government?