The new Canada Emergency Business Account (CEBA) is available starting TODAY and is available through major banking institutions: TD, Scotiabank, BMO, CIBC, RBC and National Bank.

The CEBA will provide qualifying businesses an interest-free loans of up to $40,000 to small businesses and not-for-profits until December 31, 2022, to help cover their operating costs during a period where their revenues have been temporarily reduced. Up to $10,000 of that amount will be eligible for loan forgiveness if $30,000 is fully repaid on or before December 31, 2022.

Eligibility

Organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019.

How do I apply?

Prior to applying, make sure you have the following information ready:

  • Canada Revenue Agency Business Number (BN 15 digits)

  • 2019 T4 Summary of Renumeration Paid (T4SUM)

Apply online at the financial institution your business banks with: