Vancity Launches Loan To Help Small Firms Pivot Business Models

To support small businesses that needed to change course because of the coronavirus, Vancity has rolled out its Unity Pivot Business Loan. Businesses changing direction to support the battle against the pandemic can tap into loans of up to $150,000, which will be interest free for the first six months with no payment needed over that original time frame, according to an announcement. Vancity President and Chief Executive Officer Tamara Vrooman said, Vancity’s relief programs for small businesses build on the supports already in place from the provincial and federal governments. When the country gets through the worst of this pandemic, small businesses will play a significant role in helping to drive our economic recovery. Vrooman continued, Now is the time to support these businesses as they get creative and change course in efforts to meet the challenge of this pandemic head on.