Description
Emergency lending policy for businesses hit by spring freshet, river or overland flooding. Covers: triggering event (provincial or First Nation emergency declarations); eligibility and proof of flood impact; bridging the gap while waiting for Disaster Financial Assistance Arrangements (DFAA) and provincial recovery payments; handling overland flood insurance gaps and assignment of insurance proceeds; eligible uses (water damage cleanup, mould remediation, equipment and inventory replacement, temporary premises); relocation out of flood-prone areas; inventory loss verification; deferral and repayment terms; security considerations for damaged collateral; approval authority; monitoring; and program sunset.
