When reading through the information that the Canadian government has released regarding the CEBA loan, we noticed how the language is aimed primarily at product-based businesses. We, however, do think that there are some service-based businesses that may be eligible for CEBA. We think it is worth the required time and effort for these businesses to complete the application process.

Truck Drivers

One service-based business we definitely think should apply is truck drivers. The majority of truck drivers incur more than $40,000 in non-deferrable expenses. This would make them eligible for the program. The government does not include fuel on the list of non-deferrable expenses, but we believe an argument could be made for their inclusion.

In the following video, we talk about why we think some service-based businesses could be eligible for CEBA. We also go over the expenses we believe these businesses should claim during the application.

Of course, we cannot guarantee that service-based businesses that apply will receive CEBA. We do think, however, that a good argument can be made for why they should qualify!
If you do apply using these tips, please let us know how it goes so we can help other service-based business owners.

We hope you find value in this video. Subscribe to our channel to stay on top of the continued government supports available throughout COVID-19. We also have new tax and finance tips weekly!

CEBA loan for service-based businesses

It is always a good idea to contact your advisor to discuss your personal or business finances. We stay up to date on the current government programs available for business owners and are always happy to help our clients with the application process. If you’re in need of an accountant, check out our services page or book a “Get to Know You” meeting with us by clicking here!