The Canadian Business Emergency Account (CEBA) provides much-needed credit for small businesses to pay for immediate operating costs such as payroll, rent, utilities, insurance, property tax or debt service.
On October 26, eligible businesses that currently are operating through a personal bank will be able to apply for CEBA. Soonly, the support will be expanded from $40k to $60k.
On May 19th , eligibily criterias were changed to allow farmers without payrolls to access interest-free loan of up to $40,000. Up to $10,000 eligible for forgiveness if $30,000 is fully repaid on or before December 31, 2022.
Producer Eligibility: Yes, based on certain criteria
Program Duration: Until all funds are allocated. The application deadline has been extended until December 31, 2020.
Contact : Financial institutions
Eligibility Criteria :
The Account is available to Canadian employers with $20,000 to $1.5 million in total payroll in 2019, and operating as of March 1, 2020. This includes smaller (i.e., micro) businesses and other eligible employers such as not-for-profits.
Note: Applications are made directly with financial institutions
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