What is the Canada Emergency Business Account?

Written by Delia Colquhoun on Mar. 31, 2020

The new Canada Emergency Business Account will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.

To qualify, these organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019.

Loan Guarantee for Small and Medium-Sized Enterprises

EDC is working with financial institutions to issue new operating credit and cash flow term loans of up to $6.25 million to SMEs.

Co-Lending Program for Small and Medium-Sized Enterprises

BDC is working with financial institutions to co-lend term loans to SMEs for their operational cash flow requirements.

Eligible businesses may obtain incremental credit amounts of up to $6.25 million through the program.

These programs will roll out in the three weeks after March 27, and interested businesses should work with their current financial institutions.

Source:  www.canada.ca

Delia Colquhoun

Delia Colquhoun

Marketing and Sales Coordinator

Delia joined KWB as the Marketing and Sales Co-ordinator in July 2019.
She brings with her over 7 years experience in Marketing as well as over 25 years experience in Public Relations and Customer Service.

Delia was born in South Africa but made Canada her home in 2002. Delia has one son and is patiently waiting for grand babies.

Delia volunteers at The Hope Mission, The Mustard Seed, Dreams Take Flight and the Make a Wish Foundation. She enjoys giving back to the Community and enjoys Edmonton’s festivals and Farmers Markets in her spare time.

Delia's Contact Information

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