CIBC announces support for small business owners

TORONTO, March 19, 2020 /CNW/ - In support of small businesses, today CIBC (TSX: CM) (NYSE: CM) announced extended assistance and support measures to help ease financial hardship as a result of COVID19 disruption.

Beginning today, CIBC will offer proactive, focused solutions to help reduce the financial pressure being felt by Canadian small business owners, including but not limited to:  

• Payment deferrals based on our clients' individual small business circumstances
• The establishment of an expanded and dedicated call centre team staffed by small business lending experts who are ready to assist small businesses with payment deferral and other measures
• Increased advice and support of small business clients' immediate cash management or new lending needs

"Small businesses are the backbone of our local communities and the Canadian economy," said Laura Dottori-Attanasio, Senior Executive Vice-President and Group Head, Personal and Business Banking, CIBC. "In these unprecedented times, we understand the financial strain some small business owners are feeling and we're committed to working together with them to provide immediate relief and support."

Small business clients experiencing financial hardship are encouraged to call their advisor or our new specialized contact centre team of small business banking experts at 1-800-609-0086 to discuss their individual situation.

Bank in any way that suits your needs

• In addition, small business clients can use CIBC Online Banking for Business, CIBC Mobile Banking App, CIBC SmartBanking for Business platforms, and Telephone Banking 24/7.
  
  
• CIBC's virtual presence provides small business clients with secure, convenient ways to access account information, get a clear view of accounting and payroll, as well as transfer funds, and pay bills conveniently online. CIBC also has a number of International Services, including CIBC Global Money Transfer for Business that allows small business clients to send money to over 80 countries with a $0 transfer fee.
  
  
• CIBC ATMs remain available 24/7 to access funds and conduct transactions at any time.

For more information related to the support CIBC is offering during this time, visit the CIBC  COVID-19 site.

About CIBC

CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.

SOURCE CIBC