What if I run my business out of a Personal Bank Account?
Businesses that were active and operating as of March 1, 2020 but didn’t have a business bank account as of March 1, 2020 may now be eligible for the CEBA program. The steps for these businesses to access CEBA are:
- Visit and complete the Pre-screen Tool on https://verify-verifier.ceba-cuec.ca/
- Open a business chequing/operating account with your primary financial institution
- Apply for CEBA at your primary financial institution
Follow instructions from your financial institution to complete all relevant parts of the CEBA application.
Business Owners, WE’RE HERE FOR YOU
We are accepting Canada Emergency Business Account (CEBA) applications.
The CEBA provides a $40,000 loan to eligible small businesses and not-for-profits. This Government of Canada program is to help cover operating costs for businesses, during a period where their revenues have been temporarily reduced, due to the economic impacts of the COVID-19 virus.
To help you expedite your application, we have provided a fillable form for your usage by clicking on the below URL:
The program provides $40,000 in loans that are interest-free up until December 31, 2022. There will be no minimum monthly principal payments required until December 31, 2022. Repaying the balance of the loan on or before December 31, 2022, will result in loan forgiveness of 25 percent (up to $10,000).
We are ready to accept your applications. Before filling out the application, you should have:
- Checked your eligibility by reviewing the Government of Canada’s CEBA site.
- Have your Canada Revenue Agency Business Number (BN) (15 digits), as reported at the top of your 2019 T4 Summary of Remuneration Paid (T4SUM).
- The employment income reported in Box 14 of your 2019 T4SUM.
- Contact us if you have questions @ (306) 628-3687