CANADA EMERGENCY BUSINESS ACCOUNT
Has your business been impacted by COVID-19? We are here to help!
Canada Emergecy Business Account (CEBA) provides interest-free loans of up to $40,000 to small businesses and not-for-profits. It is funded by the Government of Canada.
- Intended to support businesses by providing financial support to help cover their expenses that cannot be avoided as they take steps to safely navigate a period of shutdown
- Loans avaliable up to $40,000, interest free until December 31, 2022 (subject to avaliability of funding)
- Up to $10,000 may be eligible for loan forgiveness (if at least 75% of the loan is paid by December 31, 2022)
- As of October 26, 2020, eligibility for CEBA has expanded by removing the previous March 1, 2020 condition for having an active business chequing account
- As of October 26, 2020, eligible Canadian businesses that currently operate through a personal bank account will be able to apply for CEBA
Every applicant must meet the following criteria:
- Has an active CRA Business Number with an effective date of registration on or prior to March 1, 2020
- Has an active business chequing account at the time of applying for CEBA
- Has not previously used CEBA and will not apply for support from CEBA at any other Financial Institution
- Intends to continue to operate its business or to resume operations
Use the government's CEBA Pre-screen Tool to see and confirm your elbigility.
Interested in applying?
One of our advisors would be happy to help.