As part of the COVID-19 Economic Response Plan, the Government of Canada lunched the new Canada Emergency Business Account, which will provide eligible small business with interest-free loans of up to $40,000. Borrowers who repay the loan on or before December 31, 2022 will be entitled to a discount of repayment of up to $10,000 on the balance owing.
Funding will be provided through eligible financial institution in cooperation with Export Development Canada (EDC). For more information about the program offered by your financial institution, please stay tuned to the following websites.
Canadian Imperial Bank of Commerce
Having problems with evaluating your eligibility for the program? Speak to a partner of our firm to find out.