This week, the Government of Canada announced an expansion to the eligibility criteria for the Canada Emergency Benefit Account (CEBA ) established to help more workers and small businesses affected by COVID-19.
The Canada Emergency Business Account (CEBA) will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced. This program has been implemented by banks and credit unions in collaboration with Export Development Canada.
Business owners can apply for support from the Canada Emergency Business Account through their banks and credit unions. (Source: www.canada.ca)