The Canada Emergency Business Account (CEBA) loan is now
available to eligible small businesses and not-for-profits
(collectively, Eligible Businesses) in Canada. Eligible businesses
can now apply for CEBA online at their primary financial
institution.
What is the Canada Emergency Business Account?
On March 27, 2020, the Canadian government announced measures to
support Canadian businesses and stabilize the Canadian economy
during the COVID-19 pandemic. CEBA is one of the announced measures
and is a loan of $40,000 that is available to eligible businesses.
CEBA loans will be guaranteed by the Canadian federal
government.
Who is Eligible?
To qualify for CEBA, an Eligible Business must be an operating
registered company in Canada as of March 1, 2020, and must
demonstrate that the Eligible Business paid between $50,000 and $1
million in total payroll in 2019 as evidenced by its 2019 T4
Summary of Remuneration Paid.
