Financial Assistance for Business
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We are covering 75% of an employee’s wages – up to $847 per week - for eligible employers.
The program will be in place until August 29.
For employers that are eligible for both the CEWS and the Temporary 10% Wage Subsidy for a period, any benefit from the Temporary 10% Wage Subsidy for remuneration paid in a specific period will generally reduce the amount available to be claimed under the CEWS in that same period.
Extending the Work-Sharing program
|We are extending the maximum duration of the Work-Sharing program from 38 weeks to 76 weeks for employers affected by COVID-19.|
This measure will provide income support to employees eligible for Employment Insurance who agree to reduce their normal working hours because of developments beyond the control of their employers.
Canada Emergency Business Account (CEBA)
The Canada Emergency Business Account (CEBA) 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. This program has been implemented by banks and credit unions in collaboration with Export Development Canada.
Business owners can apply for support from the Canada Emergency Business Account through their banks and credit unions.
BUSINESS CREDIT AVAILABILITY PROGRAM (BCAP) - AVAILABLE IMMEDIATELY
|Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $10 billion of additional support|
|Who can apply: Support is targeted to small and medium-sized businesses|