CALGARY, July 25, 2013 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today it is joining the Government of Alberta in helping businesses impacted by recent flooding through the Alberta Flood Recovery Loan Guarantee Program.
The program is intended to provide affected businesses with loans to ensure smooth operations as they recover. As part of this Government of Alberta program, CIBC will provide demand loans to businesses that have suffered damages caused by the flooding to help them get back on their feet.
"CIBC is committed to supporting communities in Alberta recover from the flooding. As part of this support, we are pleased to partner with the Government of Alberta to support businesses through this challenging time," said Mark Galbraith, Region Head - Alberta, CIBC. "Local businesses are at the core of so many communities and this program will help revitalize those businesses affected by the flooding, which in turn allows communities to thrive despite the unprecedented setback."
In addition to this announcement, CIBC recently announced financial programs to support clients impacted by the flooding, as well as a $100,000 donation to the Canadian Red Cross to support recovery efforts in the region.
CIBC small business clients experiencing a loss of income or other financial impact as a result of the flooding are encouraged to contact their CIBC Advisor directly to discuss their financial situation and get personalized advice.
CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.
Geoff Dillon, Senior Director, CIBC, 416-309-3266 email@example.com