- The deadline to apply has been extended from October 31st to December 31st.
- As of Oct 26, businesses operating from a personal account can now apply.
- Expansion on lending from 40k to 60k with 25% forgiveness – the business must show Loss of income due to COVID (details coming soon about the applying process).
CEBA hotline- an agent will call back tel:+1-888-324-4201
CEWS (Canada Emergency Wage Subsidy)
CEWS has been extended until June 2021. On October 14th, an announcement was made that periods ending Oct-Dec will now have a max base rate of 40% (instead of original decline method) and the max with top up will be 65% (business with a loss of 70% or over).
They will provide more details about changes for 2021 periods. Also removed the requirement of employees being paid for 14 days prior to qualifying. keep watch for update on this one
CERS- Commercial emergency rent subsidy
- New program which allows the tenant to apply without a landlord. Subsidizing up to 65% on a sliding scale based on loss paid directly to tenant.
- Increase of additional 25% to current CERS program for businesses closed due to second wave over and above 65%.
- Program can be applied for retroactively from September 27th until December 2020.
- This program will continue until June 2021.
CECRA- original commercial rent subsidy (applied for by landlord)
Final period has to be applied for by no later than October 30th, 2020.
Relief for indigenous business owners
$40k loan, of which $30k is interest free and $10k non repayable. Apply through aboriginal financial institution
High Affected Sectors Credit Availability Program (HASCAP)
Helping hardest-hit businesses access additional financing on more flexible terms. Some businesses such as those in tourism and hospitality, have been more heavily impacted as a result of Covid-19 and are struggling more than others to access financing. If you are a Canadian business that needs additional cash flow to cover operational costs, you may be eligible for the HASCAP guarantee through your financial institution. For more information, visit bdc.ca/HASCAP