A loan guarantee program to help businesses in the hospitality industry has been launched by the provincial government.

The Restaurant Loan Guarantee Program is geared toward full-service restaurants across the province that require emergency debt restructuring to protect their long-term operation.

The program will offer loan guarantees up to a maximum of $100,000 per loan to financial institutions that lend to qualifying businesses.

Loans up to the maximum amount will be fully guaranteed by the provincial government with a repayment term of up to 10 years.

See Full Page