400 Applewood Crescent., Unit 100 Vaughan, ON L4K 0C3

CANADA EMERGENCY BUSINESS ACCOUNT – INTEREST FREE LOAN

Eligible businesses will receive a $40,000 government-funded loan to cover short term operating expenses, payroll and other non-deferrable expenses.

<http://r20.rs6.net/on.jsp?ca=89e9fd79-40bf-430c-bfd9-d0b1d3f624f8&a=1106456206288&c=caab89b0-8544-11e8-8d94-782bcb740129&ch=cb527810-8544-11e8-8dae-782bcb740129>

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Good afternoon,

We’re sending along information about how to get your application started for the Canada Emergency Business Account program ($40,000 interest free small business loan) <http://r20.rs6.net/tn.jsp?f=001yGmpN-ZOFHaN3gfceIwGggPdTTFOU5SPd0ETONrMIIJAi93L6bo2jRd29Bx7SyL8hdyh4CdYFk5RQHYex5D24-UD9vZblDAHj4d50eEqUqreNo6Q_7eKPUUaP_XQhFUzIMTGAtKvJM6vvVA17S-hXrSgwbPEaDoPG5AOzTKC-_oyEELDejEZ4DDVJvHnbfHmX-grrqBmpFGGag8HT4tavRBKwDXJJFJiQa-euAR8WJ0=&c=-OJayUidRY4fxPfoggsvDcWh_RZvcioBaGfFm6_cY6mg66S68-ZbpA==&ch=ojeX0jIigLp70o4ZHGkHx6zpdVtYj3nJ0yWrJAVhxBB74Mzh_Llf6A==>

Applications for these loans are now available online if you bank with the following major financial institutions.

*             TD Bank – Online Application Currently Available <http://r20.rs6.net/tn.jsp?f=001yGmpN-ZOFHaN3gfceIwGggPdTTFOU5SPd0ETONrMIIJAi93L6bo2jRd29Bx7SyL8fVdDrrERfD2R_a6hUCI94GlyKKDn9MwQMlQ2jgCENfc5c-NB44JnXevjvQOburWyS_Ipul3ONPa1_x3Y0aFEJlvHFjwVqG5zuVu7h1hdhvyM7vAmdjsvG02MunD6s44y&c=-OJayUidRY4fxPfoggsvDcWh_RZvcioBaGfFm6_cY6mg66S68-ZbpA==&ch=ojeX0jIigLp70o4ZHGkHx6zpdVtYj3nJ0yWrJAVhxBB74Mzh_Llf6A==>

*             BMO – Online Application Currently Available <http://r20.rs6.net/tn.jsp?f=001yGmpN-ZOFHaN3gfceIwGggPdTTFOU5SPd0ETONrMIIJAi93L6bo2jRd29Bx7SyL8rOzG_A_It2BB4fnKBX85uwcCX56RU0O3o2HEe_-S8rQyE6b79JZVRg2HaQHQQcAiJO3CNHkulWJObT3LlbSaKPWJMVTo3Oa3j0ox8xfQBAnVVhpYXLoBM9dVQz8mRsvX1d97qtk7u2o=&c=-OJayUidRY4fxPfoggsvDcWh_RZvcioBaGfFm6_cY6mg66S68-ZbpA==&ch=ojeX0jIigLp70o4ZHGkHx6zpdVtYj3nJ0yWrJAVhxBB74Mzh_Llf6A==>

*             CIBC – Online Application Currently Available <http://r20.rs6.net/tn.jsp?f=001yGmpN-ZOFHaN3gfceIwGggPdTTFOU5SPd0ETONrMIIJAi93L6bo2jRd29Bx7SyL8B03T12E4o57TIEse7t9D9fgGN1qHrTGD09NnAGdpfinrwV74Rd8Wzrbh5mHQChL12OBN84_NkFugdxPrl65ZJLaPLRlmbQmsyYQl8a4bvRBcFvB8CI316i_jzCgltbm-RxfyHz_E5-I56WkyZRo37MbtDQp8sa3ZRMLKvGfHPI2TB7QobmEwO-ZHUpbSWFJrrSFXRMPkre8=&c=-OJayUidRY4fxPfoggsvDcWh_RZvcioBaGfFm6_cY6mg66S68-ZbpA==&ch=ojeX0jIigLp70o4ZHGkHx6zpdVtYj3nJ0yWrJAVhxBB74Mzh_Llf6A==>

*             RBC – Online Application Currently Available (must login to your business banking account to apply) <http://r20.rs6.net/tn.jsp?f=001yGmpN-ZOFHaN3gfceIwGggPdTTFOU5SPd0ETONrMIIJAi93L6bo2jRd29Bx7SyL8h7Emw-TNqmjyqe9ADZvZn0bSILoieOj9N3pyqJCMLuCsYKWj2TrOIdIK1rpXRIHJS3QedKV_sjcKm2rsH4x8mrdgwtAqGVu0bCvF-q-bbkg=&c=-OJayUidRY4fxPfoggsvDcWh_RZvcioBaGfFm6_cY6mg66S68-ZbpA==&ch=ojeX0jIigLp70o4ZHGkHx6zpdVtYj3nJ0yWrJAVhxBB74Mzh_Llf6A==>

Applications for these loans are not currently available online but customers are directed to contact their customer support reps.

*             Scotia Bank – Online Application NOT Currently Available – Directives to call your account rep.to apply <http://r20.rs6.net/tn.jsp?f=001yGmpN-ZOFHaN3gfceIwGggPdTTFOU5SPd0ETONrMIIJAi93L6bo2jRd29Bx7SyL8fURwr3bxWLF2m54NwlLNGjK0MILst9hVflJUxq6vnQ1eiwuQhQEYCLV1-iU-33kVoIZTk6ZW4VbOQO6b7cAYpG2-2cjhQqs-A-gF-CU8N1Z9ZLqbGEvPPv01yLVv7z0aGEiX9x73SQmPP7kuUw807ynxLFBa4t8HftTLuMWUgwq2Lp_yEe7N-lf_-OBjdWLgBr2-HPHsVB4fEZLOxY0B86TOBLatELX3IW_mRn6O4qoNOXNf8KpccXADDdJTfU3uboRWCEN8y4k=&c=-OJayUidRY4fxPfoggsvDcWh_RZvcioBaGfFm6_cY6mg66S68-ZbpA==&ch=ojeX0jIigLp70o4ZHGkHx6zpdVtYj3nJ0yWrJAVhxBB74Mzh_Llf6A==>

*             Canadian Western Bank – Directives to call your account rep. to apply <http://r20.rs6.net/tn.jsp?f=001yGmpN-ZOFHaN3gfceIwGggPdTTFOU5SPd0ETONrMIIJAi93L6bo2jRd29Bx7SyL8pfXYAuJ3qLvRNBFVyZDNi2YsF5CDZycd5NfX3zFmynrUNqjxwIDTm7DNnDMsvfbMx5toEzEqpy49NQpSarLs1__r-VNKiuWJSpOA_T7RtmTgcGg3UqAbDHkA3raZTEiCcKVv92td3d9qHTaGFUXHqZW4PucmO25fS6N_xkodkqhbdgVEe4CZZQ==&c=-OJayUidRY4fxPfoggsvDcWh_RZvcioBaGfFm6_cY6mg66S68-ZbpA==&ch=ojeX0jIigLp70o4ZHGkHx6zpdVtYj3nJ0yWrJAVhxBB74Mzh_Llf6A==>

If you bank with a credit union or a financial institution not provided, please reach out to your account representative directly regarding their application process.

Preparation:

*             2019 T4SUM Summary of Remuneration Paid (you can find this in your CRA My Business Account <http://r20.rs6.net/tn.jsp?f=001yGmpN-ZOFHaN3gfceIwGggPdTTFOU5SPd0ETONrMIIJAi93L6bo2jRd29Bx7SyL8nlpEwro0LtEsUWCCsnzbbT0QOjJ1w-Gnry0cM11N4XriILiBslu2O-2s_5Icm0nefIjcc78jADxvPahDkWyGvBx1vQg6LU-Iue3DkjvHz_dsUHW-YGVGJLBErqd2yzV0_idvvIvzdv6XvBGatjIqSn7JwOqHYh6-4c1G89980tDNf7aVjJ0g6Dp6EUvTOO9G8u6cuyd_k_U=&c=-OJayUidRY4fxPfoggsvDcWh_RZvcioBaGfFm6_cY6mg66S68-ZbpA==&ch=ojeX0jIigLp70o4ZHGkHx6zpdVtYj3nJ0yWrJAVhxBB74Mzh_Llf6A==> )

*             If you don’t have a CRA My Business Account, you will need to sign up here <http://r20.rs6.net/tn.jsp?f=001yGmpN-ZOFHaN3gfceIwGggPdTTFOU5SPd0ETONrMIIJAi93L6bo2jRd29Bx7SyL8nlpEwro0LtEsUWCCsnzbbT0QOjJ1w-Gnry0cM11N4XriILiBslu2O-2s_5Icm0nefIjcc78jADxvPahDkWyGvBx1vQg6LU-Iue3DkjvHz_dsUHW-YGVGJLBErqd2yzV0_idvvIvzdv6XvBGatjIqSn7JwOqHYh6-4c1G89980tDNf7aVjJ0g6Dp6EUvTOO9G8u6cuyd_k_U=&c=-OJayUidRY4fxPfoggsvDcWh_RZvcioBaGfFm6_cY6mg66S68-ZbpA==&ch=ojeX0jIigLp70o4ZHGkHx6zpdVtYj3nJ0yWrJAVhxBB74Mzh_Llf6A==>

Eligibility:

Under the program*, businesses can access:

*             A $40,000 loan to help cover non-deferrable operating costs while their businesses are affected by COVID-19. The loan would be interest-free until December 31, 2022.

*             Forgiveness of 25% of the loan ($10,000) if at least 75% of the loan balance is fully repaid by December 31, 2022.

*             If not repaid by December 31, 2022, the loan can be extended to December 31, 2025 at 5% interest.

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