On March 27th, the federal government announced the Canada Emergency Business Account (CEBA), which will provide loans with favourable terms to small businesses in an effort to help businesses to continue to operate during the COVID-19 pandemic. Our understanding of the CEBA loan program is based on information we have obtained from two of Canada’s largest financial institutions. An updated outline of the CEBA can be found here.
To be eligible for the loan, a business or not-for-profit must have:
How to Apply
The CEBA loans will be available the week of April 6th and businesses must apply through the financial institution that holds its primary Business Operating Account. It is our understanding that the applications for this product must be made online. Feel free to contact your commercial account manager with any clarification you may require on their respective CEBA loan product.
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