Covid-19 Updates

Covid-19 Updates

Applying for CEBA

Apr 22. 20

Over the past few weeks, the Government of Canada has announced several financial support programs for Canadians, including the Canada Emergency Business Account (CEBA). 

The new Canada Emergency Business Account will provide an interest-free loan to small businesses and not-for-profits of up to $40,000 to help cover non-deferrable operating costs.

What are the details of the loan?

CEBA will provide interest-free loans of up to $40,000 to eligible businesses. Repaying the loan on or before December 31, 2022 may result in loan forgiveness of 25% (up to $10,000).

The CEBA will be implemented by eligible financial institutions in cooperation with Export Development Canada and the Department of Finance.

How do I apply?

This program will be delivered via online banking and the business must be enrolled for this service to apply.

How do I qualify?

Businesses must have a federal tax registration and will need to prove the total employment income paid in 2019 calendar year was between, $20,000 to $1.5 million. This will be evidenced by the amount in box 14 in the businesses T4SUM.

The business must have an active business operating account as of March 1st, 2020 and not be in arrears on existing borrowing facilities, if applicable.

Who can I contact for more information?

You can reach out to Bulkley Valley Credit Union’s Commercial Lending department at or by phone: 250-847-7954 for more information on this program and other supports available.

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