The application process provides Government of Canada program requirements through a series of attestation questions. Here are some of the main eligibility requirements and the information you need to have on hand to apply:
If your business paid between $20,000 to $1,500,000 in total payroll:
If your payroll is lower than $20,000, in addition to the above, you will need:
Applications are now being accepted. To qualify, businesses will need to demonstrate that they fall within one of the these two streams:
(i) The Payroll Stream – Applicants with employment income paid in the 2019 calendar year between Cdn. $20,000 and Cdn. $1,500,000 OR
(ii) The Non-Deferrable Expense Stream – Applicants with Cdn. $20,000 or less in total employment income paid in the 2019 calendar year.
Applicants under the Non-Deferrable Expenses Stream are encouraged to complete the online Pre-Screen Tool which will provide a non-binding indication of eligibility to inform your decision of whether to open a business account (if needed) and apply for CEBA at your financing institution.
*COMING SOON* – CEBA support is being expanded from $40,000 to $60,000. This expansion will be available to all eligible previous and new CEBA applicants. We will provide additional details once they become available.
If you have any questions, please refer to our CEBA Frequently Asked Questions below or contact your Mainstreet Commercial & Agricultural Account Manager.
For additional information, please visit www.CEBA-CUEC.ca
Frequently Asked Questions
If I have an existing business operating line or credit can I enroll in the CEBA?
Yes, you can still enroll if you are a current borrower.
I am currently receiving other COVID-19 relief support for my business. Can I still enroll for the CEBA?
Yes, you can still enroll in the CEBA if you meet the criteria. However, it’s important to note that you are only entitled to one Canada Emergency Business Account; applying for this benefit at more than one financial institution may result in prosecution by the federal government.
If I have multiple businesses, can I enroll each business in the CEBA?
Yes. Each business entity that you have may enroll for the CEBA, however, each business must individually meet the eligibility criteria and operate as a separate active business. Holding companies are not eligible.
How do I apply for the Canada Emergency Business Account?
Our application process is simple and easy. We will walk you through several attestation questions required through the program by the Government of Canada.
How can my business use these funds?
Must agree to use the funds from this loan to pay for operating costs that cannot be deferred, such as payroll, rent, utilities, insurance and property tax, as per the requirements of the program set out by the Government of Canada.
Can I still enroll for the CEBA if my business is closed due to COVID-19?
Yes. To enroll, the business must have been active and open on March 1, 2020 and meet all necessary criteria including confirmation that the loan proceeds will be used to pay for operating expenses that cannot be deferred such as payroll, rent, utilities, insurance, debt payments or property tax.
Who do I contact if I do not qualify?
Export Development Canada will be the administrator of the government’s eligibility criteria. For additional information, please visit www.CEBA-CUEC.ca
My business requires the consent of more than one signatory to commit to an action. Can I still apply?
Yes, please ensure that only the authorized signer of your business account applies. We cannot accept multiple applications from the same business account
What happens if I don’t qualify for CEBA or I need more than $40,000?
Please speak with your Mainstreet Account Manager to explore additional solutions. There may be other government initiatives to support your business, including the Business Development Bank of Canada (BDC) Co-Lending Facility and the Export Development Canada (EDC) Business Credit Availability Program.