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Canada Emergency Business Account

Canada Emergency Business Account – Apply Now!

The physical and financial health of our members is our top priority, and we’re dedicated to supporting local businesses through these challenging times.

 

On March 25, 2020, the Government of Canada announced the creation of the Canada Emergency Business Account (CEBA). Since then, the program has been expanded and enhanced several times  as a result of feedback received from Canadian business owners to enable increased support.

 

Each Team Canada partner has had a supporting role in the delivery of CEBA.

 The Government of Canada, via Finance Canada, is the lead on developing the program outlining the policy and program criteria.

 EDC is the CEBA program administrator  including the operation of the CEBA call center, working in collaboration with financial institutions.

 

The financial institutions are the entry point of the program for applicants, providing personal contact and information for business owners - helping Canadians complete online forms, responding to questions and providing updates on their application status.  

 

As a partner financial Institution, We are now accepting applications for the Canada Emergency Business Account (CEBA). CEBA is a federal government loan program that provides small and medium-sized businesses with a limited-time, interest-free loan of up to $40,000.

 

As of December 4, 2020, the Government of Canada announced an expansion to the CEBA program. The CEBA program will now provide access to an additional $20K to eligible borrowers who already received a $40,000 loan and $60,000 for new applicants to CEBA.

 

How do I qualify for CEBA?

Members are encouraged to complete the online pre-screen tool to determine eligibility prior to opening an account. Click here to access the pre-screen tool.

 

How do I apply for CEBA?

For your convenience you can apply from home using our online application found below.

 

For a speedy experience, please have the following information on hand:

 

If you’re applying through the Payroll stream, have the following:

 15-digit Canada Revenue Agency Number also shown on your T4SUM

 All 2019 T4SUM statements

 Your Credit Union Business Account Number

 

If you’re applying through the Non-Deferrable Expenses Stream

 9-digit Canada Revenue Agency Number

 Most recent Tax Return filed with CRA (2019 or 2018)

 Your Credit Union Business Account Number

 

 

PLEASE ONLY SELECT YOUR CORRECT CONNECT FIRST BRAND WHEN FILLING OUT THE APPLICATION TO ENSURE IT GETS TO THE RIGHT TEAM MEMBER.  THIS WILL ALLOW YOUR APPLICATION TO BE REVIEWED AS QUICKLY AS POSSIBLE.

 

APPLY NOW

 

Once you’re approved for CEBA, you will receive a direct deposit to your bank account. For additional information please click here.

 

Get in touch

Our team of advisors is here to guide you through this challenging time. If you need to get in touch, please contact your Credit Union Advisor, Account Manager or submit questions to CEBAInquiries@ConnectFirstCU.com for further assistance.

 

CEBA PROGRAM FAQS

 

Terms and conditions apply. Visit https://ceba-cuec.ca/ for more information.