Montréal, March 19, 2020 – After consulting with its partner companies, the Fonds de solidarité FTQ is announcing a first measure to help ease the consequences of the COVID-19 pandemic.
The Fonds is offering all its portfolio companies a six-month deferral of loan interest and principal payments. This measure is meant to ease the short-term financial pressures faced by businesses in its network, which includes the Fonds régionaux de solidarité FTQ. In the case of the Fonds locaux de solidarité FTQ, this temporary relief will be implemented in partnership with the RCMs and other FLS manager organizations.
“The heads of our partner companies are clearly putting the health of their employees and the public first,” said Fonds President and CEO Gaétan Morin. Still, they are increasingly feeling the financial consequences of the COVID-19 pandemic. As it has always done since its creation 37 years ago, the Fonds puts people first, in both good times and bad.”
“The Fonds’ investment teams are working hard to support our partner companies and evaluate their requests for financing,” said Janie Béïque, Executive Vice-President, Investments, at the Fonds de solidarité FTQ. “The Fonds’ loan payment deferral will give the businesses in our portfolio some breathing room over the next few months to better address the challenges caused by the pandemic.”
Those who need more information are invited to contact the person responsible for their file within the Fonds network. Entrepreneurs may also contact the Fonds by email at
entreprise@fondsftq.com.
The Fonds will continue working closely with the governments and its portfolio companies and will announce other measures if necessary.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $16.7 billion in net assets as at November 30, 2019, the Fonds has helped create and protect more than 215,000 jobs. The Fonds has over 3,100 partner companies and upwards of 700,000 shareholders-savers.