What is the Canada Emergency Business Account?
The Government of Canada has recently launched the new Canada
Emergency Business Account (CEBA) loan, which has
been implemented by eligible financial institutions (the
"Lender") in cooperation with Export Development Canada
(EDC).
CEBA is part of the federal government's loan program for
small and medium-sized businesses affected by COVID-19 to ensure
businesses have access to the capital they need during these
uncertain times.
The $25 billion program 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.
