Ontario Issues Stay-At-Home Order

by JasonLast updated Jan 12, 2021Category: Canada / Toronto/GTA

Stay-At-Home Order

The Ontario government has issued a new stay-at-home order in response to the rising Covid-19 numbers. Ford recently said that the new modeling showing the number of new cases will have Ontarians "falling out of their chairs". If nothing is done, then hospitals will be overrun by February. During the announcement today, the government has issued new measures which include;

  • Outdoor organized public gatherings and social gatherings are further restricted to a limit of five people with limited exceptions. 
  • People are required to wear a mask or face-covering in the indoor areas of businesses or organizations that are open. Wearing a mask or face covering is now recommended outdoors when you can't physically distance more than two meters.
  • All non-essential retail stores, including hardware stores, alcohol retailers, and those offering curbside pickup or delivery, must open no earlier than 7 a.m. and close no later than 8 p.m.
  • The restricted hours of operation do not apply to stores that primarily sell food, pharmacies, gas stations, convenience stores, and restaurants for takeout or delivery.
  • Non-essential construction is further restricted, including below-grade construction, exempting survey.

Other measures

The stay-at-home order also mandates that you cannot go outside except for essential services, such as; groceries, exercise, or essential work. This order goes into effect on Thursday at 12:01 a.m. The following regions will also continue to have in-person teachings suspended until at least February 10.

  • Windsor-Essex
  • Peel Region
  • Toronto
  • York
  • Hamilton

Impact On Ontario Residents

The changes aren't very different from what we see currently. But the longer these measures drag out, the more of an economic impact it will have on everyone. It will heavily impact both small business owners and non-essential workers who are already barely surviving on government funding.

Will Gold Prices Rise?

While this will help increase gold prices in the short-term, there are no real changes from what we've been doing. The government already encouraged Ontario residents to stay at home. If you were looking to either sell or get a loan on gold, now is the best time. The increased duration of lockdowns and restrictions will only continue putting more of a financial strain on everyone. As a financial lender and an essential service, we will continue to remain open to help serve and help all those who need it. We will continue to employ strict measures in-store to protect us all. We will also continue to provide financial relief to all our valued customers.

Pawn Loan Repayment Example

This is an example of a pawn loan repayment for a 12 month period.

Original loan amount: $30,000

Total to repay at redemption: $40,440

Total cost of borrowing at redemption: $10,440

Maximum APR = 34.8%

Minimum period 61 days, maximum period 12 months.

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