Finance Resources –Business During COVID-19
Here are some links to assist you and your business during the current COVID-19 Crisis. If you need help in navigating through any of the information below, please contact our team. For a list of other business resources, please click here.
On October 8th, 2020, the Government of Canada announced an expansion to the Canada Emergency Business Account (CEBA), which would enable businesses, and not-for-profits eligible for CEBA loans—and that continue to be seriously impacted by the pandemic—to access an interest-free loan of up to $20,000, in addition to the original CEBA loan of $40,000. Half of this additional financing would be forgivable if repaid by December 31, 2022. Additionally, the application deadline for CEBA is being extended to December 31, 2020. Funds are accessed through financial institutions – the list of where you can apply can be found in the above link under the heading, “How Can I Apply for CEBA?”
As part of Canada’s COVID-19 Economic Response Plan, the Regional Relief and Recovery Fund (RRRF) is providing over $1.5 billion in assistance to businesses and communities that may require additional support to cope with and recover from the pandemic. To access this fund, please contact the development agency for your region – click here.
Other Helpful Links
Note, while we may highlight those emergency funding opportunities that have been brought to our attention below, we also recommend that you get in touch with one of our Provincial and Territorial Member Associations for your region, which can be found here.