Cabot Links is one of Three Nova Scotia tourism operators able to access lower-cost financing
Cabot Cliffs Golf Course
(www.golfnovascotia.com)
through the Tourism Sector Financing Assistance Program.
Cabot Links signed on to the program in October 2020.
The program provides a standby letter of credit that operators use to secure loans. Up to almost $35 million in borrowing has been approved for the three operators through their financial institutions, with Cabot Links able to access $14.25 million.
The Tourism Sector Financing Assistance Program was made available to resorts, tour operators and scenic and sightseeing transportation services with at least 100 full-time and/or seasonal employees, annual revenue of at least $10 million and who experienced revenue decline of at least 50 per cent for the period April 1 to July 30, 2020 compared to the same period the previous year.