Government business relief programs with Canadian banks
We’re working with the Government of Canada to provide financial relief programs for businesses.
Canada Emergency Business Account (CEBA)
CEBA is an interest-free loan to help cover operating costs if business revenues have been temporarily reduced due to the economic impacts of COVID-19. It offers a loan of up to $40,000 for eligible businesses that’s interest-free until December 31, 2022.
Business Development Bank of Canada (BDC) Co-Lending Program
The Co-Lending Program offered by the BDC provides variable-rate term loans at market rates to eligible businesses. It’s for Canadian businesses that operate in Canada and use CIBC as their primary bank.
Export Development Canada (EDC) Business Credit Availability Program
Eligible domestic or export-oriented Canadian companies can get an EDC-guaranteed loan of up to $6.25 million. You can get this as a term loan or revolving line of credit to cover your operating and liquidity expenses.
RRRF is for businesses that may require additional help to recover from the COVID-19 pandemic, but have been unable to access other support measures. It offers businesses an interest-free repayable contribution of:
up to $40,000, with up to 25% forgivable
up to $1,000,000, fully repayable
Apply to the RRRF through your Regional Development Agency. Before applying, businesses must have already applied to other Government of Canada emergency credit relief measures.
Pepprell has always had a social and environmental mission at its core. When the pandemic hit, the business pivoted from distilling spirits to making hand sanitizer to help its community. Our advisor, Elaine Purdy, has supported Josh and his team through the transition to make their banking easier.
Cory-Lynn has started turning her studio into a virtual experience, offering take-homepaint-your-own-pottery kits as a much needed creative outlet during the pandemic. Our advisor, Louis Choi, has helped her during this stressful time by enrolling her in a business relief program so that she could focus running the business.
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