Canada Emergency Business Account (CEBA) for small businesses

Posted by Mir Khan on Monday, April 27th, 2020 at 10:10am.

Canada Emergency Business Account (CEBA) for small businesses

Dear Friends, present Clients' & future Clients',

The Canada Emergency Business Account (CEBA) will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.

To qualify these organizations will need:

- to demonstrate they paid between $20,000 to $1.5 million in total payroll in 2019

- to have a federal tax registration on or prior to March 01, 2020

- to have an active business chequing/operating acct with the financial institution in Canada and not in arrears on existing borrowing facilities

- to only apply at one participating Canadian financial institution

- to continue to operate their business or resume operation (once approved for the CEBA).

Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).

Business owners can apply for support from the Canada Emergency Business Account through their banks and credit unions.

Please stay safe, stay home (mostly) and follow #physical-distancing + #self-isolation -- listen to the Medical Experts and Our Government recommendations.

If I can be of any help and service, please contact me at: (778) 558-4427 or email me at: mir@mirkhan.ca

Feel free to leave to comment or ask me something by entering it below 'Leave a Comment' box ...

Thanks for reading & viewing.

Mir Khan
Certified International Property Specialist, International Realtor Member, Professional Full-time Realtor
Mir Khan Personal Real Estate Corporation
Century 21 AAA Realty Inc.
(778) 558-4427
mir@mirkhan.ca
www.MirKhan.ca

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