CEBA ~ Canadian Emergency Business Account Infographic
CEBA extended to June 30, 2021
CEBA provides small businesses with interest-free loans to help with operating when revenues are down. Costs may include items like payroll, rent, utilities, insurance and property tax. Hard-hit small businesses and not-for-profits could be eligible for an additional $20,000 CEBA loan. Applicants who have received the $40,000 CEBA loan may apply for the CEBA expansion, which provides eligible businesses with an additional $20,000 of financing. Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 33 percent (up to $20,000).
Business Owner clients may also be interested in the Canada’s Emergency Wage Subsidy CEWS Program designed to support Canadian businesses re-hire workers laid off as a result of COVID-19. View the CEWS infographic.
Small businesses and not-for-profits should contact their financial institution to apply for these loans. The loans are available from more than 220 financial institutions across Canada.
“Use this FreshPlan infographic to illustrate how the Canada Emergency Business Account (CEBA) provides small businesses with interest-free loans of up to $60,000 to help with operating costs.”
A valuable infographic for your business-owner client and/or their self-employed children. To learn more about this complex Canadian program, visit the Government of Canada site.
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