COVID-19 Resources

We’ve compiled a list of supportive COVID-19 options and resources below.​​​
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​​​​​For the most up-to-date Government of Canada news view this page. 
For the most up-to-date Government  of Ontario news view this page.

Individuals and Families

Students

Community

Business

Individuals and Families

Libro support for individuals and families

 

Mortgage deferral 

There is up to a 6 month mortgage payment deferral and loan deferral options for personal Owners. 

Skip a mortgage payment

This option is available to you; however, if you can make your current mortgage payment, you should. Paying off your debt is always going to be better for your finances overall. Our skip-a-payment feature is intended to help you if you are unable to make a payment due to financial difficulties arising from a crisis or emergency. Talk to a Libro coach about the right solutions for your individual circumstances. See our FAQs for additional information. 

Libro credit card payment deferral

Collabria is offering cardholders financial support through their Financial Relief Program, including:

  • A temporary interest rate reduction and payment deferral options for qualified cardholders impacted by COVID 19  
  • Support for Canadians stuck outside of Canada
  • Increased contactless payment limits

Please call Cardholder Services at 1-855-341-4643 or visit Collabria’s website to learn more.

 

Additional Resources

Government of Canada: Employment Insurance (EI) benefits

Government of Canada: Changes to taxes and benefits: CRA and COVID-19

Government of Canada: Support for Individuals

Government of Canada: Apply for Employment Insurance

Government of Canada Press Release: Canada Emergency Response Benefit

Government of Canada: Economic Response Plan: Support for Canadians and Businesses

Employment Insurance: Government of Canada - Employment and Social Development

Canada Child Benefit: Government of Canada - Employment and Social Development

 

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Students

Libro support for Students

 

Students currently enrolled in school with a Libro student loan (interest-only payments)

Interest on student loans is waived for 6 months from April 1 to September 30, 2020. Payments will automatically stop- no action is required from the student. If a student prefers to continue their regular payment, contact us  and we can arrange to apply those payments entirely towards the loan principal. 

Graduates paying off their Libro student loan (principal and interest payments)

Owners currently paying off their Libro student loan will have the interest waived for 6 months from April 1 to September 30, 2020. Payments will continue as usual, with the entire payment being directed towards the loan principal. If your income is affected by COVID-19 and you are looking for support, contact your Libro Coach for skip-a-payment and loan deferral options. 

 

Additional Resources

Government of Canada: Changes to taxes and benefits: CRA and COVID-19

Canada Student Loans: Government of Canada - Employment and Social Development

 

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Community

Libro and the Communtiy

 

How Libro is supporting the community

Community support is core to our business and that will remain the same over the coming months. We will continue to provide sponsorships and grants. We are connecting with local community leaders to understand highest needs for our most vulnerable populations and will make adjustments to our programs if needed.

Will response times for partnerships, sponsorships and donations requests be affected?

We will do our best to respond in a timely manner, however there may be delays. If your program or initiative isn't occurring until later in the year we ask that you consider delaying your request.

How Libro is providing emergency support for immediate needs in the community

Libro has contributed $320,000 to Covid-19 Emergency Response Initiatives of local United Ways across southwestern Ontario. United Way chapters across our service area are working with front line agencies, municipalities and other community partners to respond quickly and provide the emergency support needed for the most vulnerable. Click here for more information

I want to do something to support my community, how can I find out the most urgent needs?

We know that many organizations supporting our most vulnerable populations are struggling eg. food banks, and shelters. Your local United Way is a great resource to find out what is most needed in your area.

United Way Elgin Middlesex

United Way/Centraide Windsor-Essex County

United Way Chatham Kent

United Way Sarnia Lambton

United Way Haldimand & Norfolk

Unites Way Waterloo Region Communities

United Way Perth Huron

Some organizations are unable to accept physical donations at this time and may be asking for charitable donations. Be careful of fraudulent websites or posts seeking to exploit the COVID-19 pandemic. Always verify a charity through a reputable source to make sure they are legitimate before making a donation.

My son/daughter was going to apply for your student award program, is that still happening?

Yes, at this moment applications are still open until April 7th and award recipient will be notified by May 29. Funds will be deposited by August 31st. We may extend the timing for applications. Check the student awards page for updates.

Libro has agreed to be a sponsor of my event this year. We will postpone/cancel the event. Will we receive the funds agreed?/ Should we reimburse Libro for the sponsorship received?

We understand that organizations might need to adjust their finances to serve their clients during these challenging times. Libro will honor all sponsorship commitments and trust that our community partners will use the funds in the most appropriate way to support their work during these times.

 

Additional Resources

Pillar Non- Profit: COVID-19 Resources and News Pillar Non-Profit Network

Ontario Non-Profit Network Resources to help nonprofits adapt and respond to COVID-19

Ontario Government: Ontario Protecting the Most Vulnerable During COVID-19 Crisis

Ontario Government: Newsroom

 

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Business

Canada Emergency Business Account (CEBA)

PLEASE NOTE: The Federal Government announced additional changes to the CEBA attestation questions which will allow more businesses to qualify.
As of July 6, 2020 the updated changes have been included, and all businesses are now required to apply under the new requirements.
Check out the Government of Canada site for additional information.

apply here


For detailed CEBA documentation, visit our Loan Agreement page to learn more. 

With the Canada Emergency Business Account, you can apply for a Government of Canada interest-free loan of up to $40,000 to help cover operating costs.

CEBA loan through Libro includes:

  • A $40,000 interest-free (until December 31, 2022), government guaranteed loan to help you pay for operating costs that you’re not able to defer as a result of COVID-19.
  • $10,000 (25%) of the $40,000 loan is eligible for complete forgiveness if $30,000 is fully repaid on or before December 31, 2022.
  • If the loan is not repaid by December 31, 2022, it will be converted into a 3‑year term bearing an interest rate of 5% per annum.
  • Outstanding principal of the loan must be fully repaid by December 31, 2025.
  • Libro will not process any repayment of CEBA loans until November 1, 2020.
  • If a default occurs in any scheduled payment under this agreement, at its option, Libro may demand payment of all unpaid amounts due, including without limitation all principal and interest. Events of default include:
    • default in paying any amount due hereunder.
    • default in paying any other loan outstanding.
    • you fail to comply with any of the provisions of this Agreement.
    • you make any false or misleading representation, including without limitation, in your application for the Loan or the information you have certified.
    • you commit an act of bankruptcy or become insolvent, or
    • a receiver is appointed for your business or any part of your property.

Eligibility Requirements
The application process provides Government of Canada program requirements through a series of attestation questions. Here are some of the main eligibility requirements and the information you need to have on hand to apply: 

  1. If your business paid between $20,000 to $1,500,000 in total payroll:
    1. Your organization's 2019 T4 Summary of Remuneration Paid (T4SUM). If you cannot locate your T4SUM, please contact the Canada Revenue Agency or your payroll provider.
    2. Your business has a 15-digit Canada Revenue Agency Number.
    3. You agree to use funds from this loan to pay for operating costs that cannot be deferred, such as payroll, rent, utilities, insurance, and property tax.
    4. You are not applying for this loan at any other financial institution. 
  2. If your payroll is lower than $20,000, in addition to the above, you will need:
    1. A 2018 or 2019 tax return; and
    2. Proof of eligible non-deferrable expenses of between $40,000 and $1,500,000 (these expenses are defined in the application but include expenses such as rent/lease, insurance, property taxes, utilities, scheduled debt payments).

If you have any questions, please refer to our CEBA Frequently Asked Questions below. If you have any further questions, please contact your Coach.

CEBA Frequently Asked Questions

No. Businesses must enrol for the Canada Emergency Business Account at their primary financial institution where they have an existing business banking account and cannot apply at more than one financial institution.

Your primary financial institution is the one where your business does the majority of its day-to-day banking, including employee payroll, supplier payments, and collection of receivables – if this is not your Libro account, you need to apply at the financial institution where this business account is held at.

The program allows your business to complete the agreement with the consent and attestation of only one signing officer that has the authority to bind the organization. We will not be accepting multiple signatures.

Each business entity may enrol for CEBA. Each business must individually meet the eligibility criteria. In that case you will need to click the application link for each business.

No. The Canada Emergency Business Account is only available to business clients who have been a registered operation on or before March 1, 2020 with a Libro business operating account. The government has announced additional relief measures to support sole proprietors. Further information is available at the Government of Canada’s COVID-19 Economic Response Plan site.

Yes, relief program through financial institutions and government programs are independent of each other and businesses may apply for both programs providing they meet qualification requirements.

Export Development Canada is the administrator of the government's eligibility criteria. Please visit www.CEBA-CUEC.ca for more information. A Libro Coach can also assist you with any questions you may have about the attestation questions or other programs that may be a better fit.

Use this self-assessment tool to determine what government programs your Ontario business qualifies for (this tool is developed by London business rTraction).

The Eligible Non-Deferrable Expense categories are the following:

  • Wages and other employment expenses to independent (arm’s length) third parties;
  • Rent or lease payments for real estate used for business purposes;
  • Rent or lease payments for capital equipment used for business purposes;
  • Payments incurred for insurance related costs;
  • Payments incurred for property taxes;
  • Payments incurred for business purposes for telephone and utilities in the form of gas, oil, electricity, water and internet;
  • Payments for regularly scheduled debt service;
  • Payments incurred under agreements with independent contractors and fees required in order to maintain licenses, authorizations or permissions necessary to conduct business by the Borrower.

The Business Development Bank of Canada (BDC) Co-Lending Program 

The co-lending program offers term loans to businesses through a partnership between Libro and BDC. Details include: 

  • The program is for Libro business Owners who have an existing borrowing relationship in good standing with Libro, and Libro is their main financial institution. 

  • The term loan amounts offered are based on your business revenues. 

  • Loan proceeds are to be used to help with operational cash flow which has been affected by COVID-19.

Contact your Libro Coach for additional information and to apply.

The Export Development Canada (EDC) Business Credit Availability Program Guarantee 

EDC’s Business Credit Availability Program guarantee allows Libro to provide new operating credit and cash flow term loans to businesses to help you sustain your operation if it’s been impacted by COVID-19. Talk to your Libro Coach for more information.  

Libro Inspection Reports

Account Managers can perform Inspection Reports for Home Builders if appraisers are not available.
 

Libro Loan Deferral Options

Libro has loan deferral options including commercial and agricultural loans. Talk to your Libro Coach about the right option.

Additional Resources

Canada Mortgage and Housing Corporation: Apply for the Commercial Rent Assistance Program (CECRA).

Government of Canada: Regional Relief and Recovery Fund

Government of Canada: Business Credit Availability Program

Government of Canada: Changes to taxes and benefits: CRA and COVID-19

Government of Canada: Details of the Canada Emergency Wage Subsidy to Help Businesses and How To Apply (a wage subsidy of up to 75% to help keep employees working during the pandemic).

Government of Canada: Economic Response Plan: Support for Canadians and Businesses

Government of Canada Press Release: Canada Emergency Response Benefit

Government of Canada: Support for Businesses

Government of Canada: Temporary Wage Subsidy for Employers

Canadian Federation of Independent Business (CFIB): FAQs for Small Business Support. Unsure of what support options your business qualifies for? Please visit CFIB's frequently asked questions page. 

BDC: Support for entrepreneurs impacted by the coronavirus

BDC: Small Business Loans

CFIB: Small Business Help Centre

Women Business Enterprises Canada Council: Procurement Opportunities for Businesses during COVID-19