Canadian Emergency Business Account (CEBA) Update
Deputy Prime Minister Freeland announced changes to the CEBA program that will open the loan program up to businesses that have been operating from personal banking accounts.
According to the Finance Departments backgrounder (see here), to be eligible, businesses:
- must have been operating as a business as of March 1, 2020,
- must successfully open a business account at a Canadian financial institution that is participating in CEBA, and
- meet the other existing CEBA eligibility criteria
The deadline to apply for CEBA is December 31, 2020.