We’ve compiled a list of supportive COVID-19 options and resources below.
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
Individuals and Families
Students
Students
Community
Community
Business
Business
Individuals and Families
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Libro support for individuals and families |
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| 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. |
Additional Resources
Government of Canada: Emergency Rent Subsidy
Government of Canada: Individual COVID Support Programs
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: 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
Students
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Libro support for Students |
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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. |
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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: Emergency Rent Subsidy
Government of Canada: Individual COVID Support Programs
Government of Canada: Changes to taxes and benefits: CRA and COVID-19
Canada Student Loans: Government of Canada - Employment and Social Development
Community
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Libro and the Communtiy |
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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. |
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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. |
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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 |
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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/Centraide Windsor-Essex County United Way Haldimand & Norfolk Unites Way Waterloo Region Communities 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. |
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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. |
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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
Business
Canada Emergency Business Account (CEBA)
This program is now closed for applicants.
Repayment: although the CEBA loan is interest free until Dec 31, 2022, you may wish to start making payments sooner. To make a repayment to your CEBA loan, please call or email Libro Connect ( 1-800-361-8222, service@libro.ca ), send a secure message through online banking or contact your coach or branch directly.
Check out the Government of Canada site for additional information and frequently asked questions.
View current and past documentation for the Canada Emergency Business Account (CEBA) Loan.
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. The program is available until December 31, 2021.
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:
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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.
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The term loan amounts offered are based on your business revenues.
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Loan proceeds are to be used to help with operational cash flow which has been affected by COVID-19.
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The co-lend program is available until December 31, 2021.
Contact your Libro Coach for additional information and to apply.
Highly-Affected Sectors Credit Availability Program (HASCAP)
Available NOW
The Government of Canada recently announced a new program for businesses in sectors hardest hit by the Covid-19 pandemic. The program is a low rate (at 4%) Government-guaranteed financing up to $1,000,000 provided through Canadian financial institutions. As a Libro Owner, we are able to support you with the application. Please read the program details and eligibility requirements below. If you believe this loan is appropriate for your business and you meet the requirements, please connect with your Coach. The program is available until December 31, 2021.
Eligibility requirements include:
- Your business has applied for, and received, three months (consecutive or non-consecutive) support from the Canada Emergency Rent Subsidy (CERS) or the Canada Emergency Wage Subsidy (CEWS).
- If your business has not received CERS or CEWS due to non-eligibility your business may still be eligible for HASCAP if your business has been significantly affected by Covid-19; demonstrated through reduced monthly gross revenues of greater than 50% from same month previous year; and experienced with a minimum of three months (consecutive or non-consecutive) during previous 8-month period from the date of your HASCAP application.
- Your business must not be a government organization, body, registered charity, non-profit, religious organization or fundraising vehicle.
More detailed information can be found on the Business Development Bank of Canada (BDC) website.
If your business meets the criteria outlined follow these steps to start the application process:
- Starting February 1, visit the BDC Government of Canada website to complete the qualification form and receive a confirmation code. This code is required before completing a loan request with Libro.
- Once you have the BDC confirmation code, contact your Libro Coach by phone or email to complete the application process. Additional information may be required.
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
Government of Canada: Emergency Rent Subsidy
Government of Canada: Individual COVID Support Programs
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: 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