Ontario Set to Enter Lockdown Beginning Boxing Day

by JasonLast updated Dec 21, 2020Category: Canada / Toronto/GTA


Ford announced that the entire province of Ontario is set to enter a lockdown, only days before the holiday season. The lockdown will begin at 12:01 am on December 26. For northern Ontario regions which haven't seen many cases, the lockdown will last 2 weeks until January 9. For Southern Ontario regions, the lockdown will last 4 weeks until January 25.

Criticism over the lockdown

Instead of targeting specific regions, the entire province will be shut down, sparking criticism. Many feel it is unfair to lockdown their communities if they are under control. There are also complaints against the lockdown not starting until after Christmas. Ford explains that no community is immune and that this is the best way to relieve stress off of healthcare workers and hospitals. Both are facing high pressure from Covid-19 cases already. He also says that he wants to give the businesses ample time to prepare. Ford added Toronto is already shutdown.

Why is it necessary?

This comes following Ontario reporting over 2,000 new Covid-19 cases for a 7th straight day. Officials say unless drastic changes are made, Ontario could see up to 300 patients in intensive care units by the end of December. And according to forecast models, this number can reach as high as 1,500 by mid-January.

What Can I Do?

But with the lockdown, many businesses and individuals are going to be struggling. As a financial service operating under the essential services exemption, we are proud to be able to help during this time with flexible payment options to help suit your needs. We will remain open following the recommended safety guidelines issued by the government. If you have any questions or need help with finances, we'll be available to help you through these times.

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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