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Set up CRA direct deposit for your business


Canada Emergency Wage Subsidy (CEWS)

Any business with a decline in revenue is eligible to apply for this program. The wage subsidy is proportional to the revenue drop your business has experienced, to a maximum of 65% of eligible wages, retroactive to March 15, 2020.

The Government of Canada is now accepting online applications for the CEWS programOpens a new window in your browser.. This program is available until October 2021.

Sign up for CRA direct deposit through CIBC Online Banking for Business Opens a new window in your browser. to ensure the fastest funding experience and avoid delays of physical cheques.

Learn more about how to set up CRA direct deposit for your business.

Canada Emergency Rent Subsidy (CERS)

Any business with a decline in revenue is eligible to apply for this program. The rent subsidy is proportional to the revenue drop your business has experienced, to a maximum of 65% of eligible rent and property expenses, retroactive to September 27, 2020.  Certain businesses may also qualify for additional lockdown support Opens in a new window..

The Government of Canada is now accepting online applications for the CERS program Opens in a new window.. This program is available until October 2021.

To ensure the fastest funding experience and avoid delays of physical cheques, sign up for CRA direct deposit through CIBC Online Banking for Business Opens in a new window..

Learn more about how to set up CRA direct deposit for your business.

Canada Recovery Hiring Program (CRHP)

Budget 2021 proposes to introduce the new CRHP for eligible employers that continue to experience qualifying declines in revenues relative to before the pandemic. The proposed subsidy would offset a portion of the extra costs employers take on as they reopen, either by increasing wages or hours worked, or hiring more staff. This support would only be available for active employees and will be available from June 6 to November 20, 2021. Eligible employers would claim the higher of the CEWS or the new proposed subsidy. The aim is to make it as easy as possible for businesses to hire new workers as the economy reopens.

How the 2021 federal budget is planning to help small businesses prosper (3-minute read)

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 $60,000 for eligible businesses that’s interest-free until December 31, 2022.

New CEBA applications are no longer being accepted.

Learn how to repay your loan

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 available to Canadian businesses that operate in Canada and use CIBC as their primary bank.

The deadline to apply for this program has been extended to December 31, 2021.

Learn moreabout the BDC Co-Lending Program.

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.

The deadline to apply for this program has been extended to December 31, 2021.

Learn moreabout the EDC Business Credit Availability Program.

Canada Recovery Benefit (CRB)

Self-employed individuals can qualify for $1,000 for a 2-week period ($900 after taxes withheld). To be eligible, you must not have been employed or self-employed during the period you’re applying for; or you must have experienced a 50% reduction in your average weekly income compared to the previous year.

The Government of Canada is now accepting online applications for the CRB program Opens in a new window.. This program is available until October 2021.

To ensure the fastest funding experience and avoid delays of physical cheques, sign up for CRA direct deposit through CIBC Online BankingOpens in a new window..

Learn more about how to set up CRA direct deposit

Canada Recovery Sickness Benefit (CRSB)

Self-employed individuals can qualify for $500 for each 1-week period ($450 after taxes withheld). To be eligible, you must be unable to work at least 50% of your work week due to COVID-19 or other eligible reasons.

The Government of Canada is now accepting online applications for the CRSB program Opens in a new window.. This program is available until October 2021.

To ensure the fastest funding experience and avoid delays of physical cheques, sign up for CRA direct deposit through CIBC Online Banking Opens in a new window..

Learn more about how to set up CRA direct deposit

Canada Recovery Caregiving Benefit (CRCB)

Self-employed individuals can qualify for $500 for each 1-week period ($450 after taxes withheld). To be eligible, you must be unable to work at least 50% of your work week because you’re caring for your family members or children due to COVID-19 or other eligible reasons.

The Government of Canada is now accepting online applications for the CRCB program Opens in a new window.. This program is available until October 2021.

To ensure the fastest funding experience and avoid delays of physical cheques, sign up for CRA direct deposit through CIBC Online Banking Opens in a new window..

Learn more about how to set up CRA direct deposit

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