Dear business members,
Today, the government announced the intention to introduce new, targeted supports to help hard-hit businesses and other organizations experiencing a drop in revenue. The government plans to introduce legislation to provide support that would help these businesses safely get through the second wave of the virus and the winter, cover costs so they can continue to serve their communities, and be positioned for a strong recovery.
Among these support measures, we can find an expanded Canada Emergency Business Account (CEBA), which would enable businesses, and not-for-profits eligible for CEBA loans – and that continue to be seriously impacted by the pandemic – to access an interest-free loan of up to $20,000, in addition to the original CEBA loan of $40,000. Half of this additional financing would be forgivable if repaid by December 31, 2022.
Additionally, the application deadline for CEBA is being extended to December 31, 2020. Further details, including the launch date and application process will be announced in the coming days. An attestation of the impact of COVID-19 on the business will be required to access the additional financing.
A reminder that eligible business members can complete the online application. After completing the application, they must upload the supporting documents to the government website at application-demande.ceba-cuec.ca.
If you’ve applied for CEBA and have questions, please contact the new CEBA Call Centre at 1 888-324-4201 to receive a status update on your CEBA application. The CEBA call centre is open Monday to Friday from 8:00 am to 9:00 pm ET.
Thank you for your cooperation.
President & CEO