Keeping you all in the loop with government supports available for business owners who continue to be affected by COVID-19. A couple of weeks ago, we shared a video on updated supports for businesses. One of these was the Canada Emergency Bank Account (or CEBA). The update extended this loan an extra $20,000 on top of the original $40,000. You can get more info by checking out that video here!
Now, the Canadian government has released a couple of new changes to this loan.
Firstly, you can now apply for the loan even if you operate without a business bank account. So, if you run your business using your personal bank account, you can still qualify for CEBA! As a result, the program is able to reach more business owners. It will allow a lot more business owners to qualify compared to the original rules.
Secondly, a pre-screen tool has been implemented to be completed online prior to applying. You can find the pre-screen tool here: https://verify-verifier.ceba-cuec.ca/.
In this video, Caitlin walks us through how to complete the pre-screen tool. She also goes over the information you’ll need in front of you. Remember to give us a like and to subscribe to our channel for more COVID-19 income support updates and other tax and finance tips!
