Updates to the Canada Emergency Business Account (CEBA) and Canada Emergency Wage Subsidy (CEWS)

The Government has expanded the CEBA and CEWS programs. Your business may now be eligible. Learn more about CEBA and CEWS.

We’re here to support you and your business during this challenging time

We understand the impact that COVID-19 has had on your business and we’re here to help. If you need financial assistance, reach out to your relationship manager to talk about relief options. We also remain open to serve your everyday business needs through our online digital business services.

Government business relief programs with Canadian banks

The federal government has announced new joint programs with Canadian banks designed to help Canadian businesses during the COVID-19 crisis:

Loan programs

Canada Emergency Business Account (CEBA)

The Government of Canada has launched the Canada Emergency Business Account (CEBA). This provides qualifying business owners with an interest-free, government-backed loan of $40,000 to help ease the financial strain incurred as a result of the COVID-19 pandemic.

on the Canada Emergency Business Account

The Business Development Bank of Canada (BDC) Co-Lending Program

The BDC Co-Lending Program will provide qualifying Canadian businesses with much-needed access to working capital for short-term liquidity in response to COVID-19.

For more program details, please read the FAQ, contact your relationship manager or visit the BDCOpens a new window in your browser..

Read our latest news releaseOpens a new window in your browser.

The BDC Mid-Market Financing Program

The BDC Mid-Market Financing Program is available to provide liquidity support to Canadian businesses with revenues of approximately $100 million or greater that are facing hardship due to the COVID-19 crisis.

Loans with a term of 4 years are available in amounts between $12.5 million and $60 million.

For more program details, please contact your relationship manager or visit the BDCOpens a new window in your browser..

The Export Development Canada (EDC) Business Credit Availability Program (BCAP)

The EDC BCAP is an EDC-guaranteed loan to help either domestic or export-oriented Canadian companies impacted by COVID-19.

For more program details, please read the FAQ, contact your relationship manager or visit the EDCOpens a new window in your browser..

Read our latest news releaseOpens a new window in your browser.

The EDC BCAP Mid-Market Guarantee Program

The EDC BCAP Mid-Market Guarantee Program is available to provide liquidity support to Canadian businesses to sustain operations during COVID-19. Qualified applicants can access between $12.5 million and $80 million CA ($8.75 million to $56 million US) to cover business operating costs.  

For more program details, contact your relationship manager or visit the EDCOpens a new window.

For additional details on these programs, visit the Government siteOpens a new window in your browser..

Canada Emergency Commercial Rent Assistance (CECRA)

The CECRA provides relief for small businesses experiencing financial hardship due to COVID-19 and offers forgivable loans to eligible commercial property owners.

For more program details, visit the CMHCOpens a new window in your browser..

Subsidy programs

Canada Emergency Wage Subsidy (CEWS)

Canada Revenue Agency (CRA) has launched the Canada Emergency Wage Subsidy to help employers keep and re-hire workers during the challenges posed by the COVID-19 pandemic.

The government is now accepting online applications for the CEWS programOpens a new window in your browser..

For a faster funding experience, register for direct deposit with CIBC’s CRA Direct Deposit available through CIBC Cash Management OnlineOpens a new window in your browser. or CIBC Online Banking® for BusinessOpens a new window in your browser.

about the Canada Emergency Wage Subsidy.