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BMO Launches Tailored Small Business Bundle as part of its Canadian Defence Community Banking Program

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TORONTO, Feb. 16, 2021 /CNW/ - To expand support for Canadian military Veterans, retirees, and spouses that own a business, BMO Bank of Montreal has introduced a new small business banking bundle. The offer is aimed at supporting entrepreneurs from the Canadian Defence Community, from start-up to succession planning.

Members of the Canadian Defence Community will benefit from:

  • 50 per cent discount on monthly plan fees on select business chequing accounts, and lower borrowing costs for small business loans or lines of credit

  • A tailored entrepreneurship guide with practical, ready-to-implement advice on business ownership

  • Preferred pricing with Moneris®* payment processing to provide customers with payment flexibility

"When Canadian Armed Forces members transition from active duty to civilian life, more than half find themselves either running or working for a small business. We wanted to find a way to give back to these members," said Mike Bonner, Head, Canadian Business Banking, BMO Bank of Montreal. "In support, we've created a banking program that will keep more money in their pockets while also providing resources to help them navigate uncertain times and grow. This has been an especially challenging time for all main street businesses across the country, but we continue to stand behind them in partnership as we look to help propel them forward."

"BMO has spent many years listening to serving military, Veterans, and their families to deliver what you need," said Major General (Ret.) David Fraser, Defence and Security Advisor at BMO. "The transition from military to civilian life has many challenges, none more so than who to trust with your finances. BMO has excellent personal and now business banking financial options."

Official Bank of the Canadian Defence Community
Since 2008, BMO has served as the Official Bank of the Canadian Defence Community. The bank has created a Canadian Defence Community Banking (CDCB) Program, designed to serve the banking needs of regular force personnel, reserves, recruits, military families, veterans and retirees, as well as Department of National Defence (DND) and Staff of the Non-Public Funds civilian personnel, the RCMP and the Canadian Coast Guard.

The CDCB Program offers products and services specifically designed to meet the needs of the defence community, such as discounted banking rates and the BMO Support Our Troops Mastercard. A portion of each transaction made with the BMO Mastercard goes to Support Our Troops, the official charitable cause of the Canadian Armed Forces, and has generated over $641,000 to date.

To learn more about how BMO is helping members of the Canadian Defence Community, visit www.bmo.com/cdcb or www.bmo.com/cdcbbusiness.

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $949 billion as of October 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

Web:www.bmo.com Twitter: @BMOmedia

SOURCE BMO Financial Group

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View original content: http://www.newswire.ca/en/releases/archive/February2021/16/c0153.html