Canada Emergency Business Account
The government has announced that applications for the expansion of the Canada Emergency Business Account (previously known as CEBA+) are now open! This is good news for businesses facing cash-flow issues due to COVID-19, especially as we come to the end of the year.
What is the CEBA expansion?
The CEBA expansion is an additional $20,000 loan to help cover fixed expenses, like insurance and property taxes. The loan is interest-free and half of it ($10,000) will be forgiven if you repay it by the end of 2022. If you haven’t received the original CEBA loan, you may now apply for a $60,000 loan with up to $20,000 forgivable.