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Small businesses are the backbone of our economy but they continue to face economic challenges and uncertainty during the COVID-19 pandemic.
The Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, is today announcing that the application deadline for the Canada Emergency Business Account (CEBA) is extended from August 31 to October 31, 2020.
The government is working closely with financial institutions to make the CEBA program available to those with qualifying payroll or non-deferrable expenses that have so far been unable to apply due to not operating from a business banking account.
Further details on these changes will be released in coming days, including a new business account opening process through which qualifying businesses will be able to apply.