CF will allow loan deferments

The Community Futures office in Peace River is still open but clsoed to walk-in clients.

Susan Thompson
South Peace News

Community Futures Peace Country’s board has decided to allow their small business loan clients to defer some of their payments, if needed.

Community Futures Peace Country has been helping business clients in rural Alberta with training, resources, and loans for over 30 years.

In order to help stop the spread of COVID-19, upcoming events like the March 25 “Lunch and Learn” session at the Peace River office and the annual Women in the North Conference April 29-30 at the Belle Petroleum Centre have been cancelled.

Community Futures has closed to walk-in clients, but the organization itself is still open, and will keep helping clients through phone calls and e-mails to allow for social distancing.

In a statement e-mailed to all clients, general manager Randy Hodgkinson says, “We know that the small business community will suffer financially as more and more individuals choose to, or are forced to, self-isolate and stay home.

“We understand that as this happens, many of you will see your revenue decline and your ability to meet your obligations suffer. The reality is that this will be a matter of when it happens, rather than if it will happen.”

Hodgkinson says the board and staff at CF Peace Country stand ready to support their small business loan clients. Loan clients can contact Community Futures directly to discuss their options.

Even if loan clients are able to keep making their regular payments, Community Futures is asking them to check in and let Hodgkinson know.

“Although I do believe that this current crisis will eventually pass, it will fundamentally change our world and will change the way people do business. By working together we can all come out the other side in as good a position as possible to mitigate the downsides and take advantage of new opportunities,” he says.

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