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Canada Emergency Business Account

Updated: Apr 22, 2020

The newly created Canada Emergency Business Account (CEBA) provides capital to small businesses affected by the COVID-19 pandemic to assist with operating costs.

The program will provide loans of up to $40,000 to small businesses and not-for-profit organizations. The loans will be interest-free for one year, with the potential of up to $10,000 of loan forgiveness (25%) if the balance of the loan is repaid on or before December 31, 2022.

To qualify, your payroll for 2019 must be between $20,000 and $1,500,000.

These loans will be administered by your financial institution, including the application process. Please contact them to arrange for this benefit.

The program is expected to be available the week of April 6, 2020.


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