MEMBER UPDATE: April 16, 3:30PM
Prime Minister Expands Access to CERB
Today, the Federal Government announced two major expansions to its funding to support small businesses. It plans to:
- Expand the Canada Emergency Business Account (CEBA) to businesses that paid between $20,000 and $1.5 million in total payroll in 2019. This new range will replace the previous one of between $50,000 and $1 million, and will help address the challenges faced by small businesses to cover non-deferrable operating costs.
- Introduce the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. The program will seek to provide loans, including forgivable loans, to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June. Program implementation details will arrive soon.
You can review the full announcement here. Stay tuned for new transfers for essential workers soon. If you have any questions about applying to the CERB, contact email@example.com today.