Canada Emergency Business Account expanded to include many owner-operated businesses

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CEBA Expanded to Better Support Small Business

Today, Prime Minister Justin Trudeau announced an expansion to the eligibility criteria for the Canada Emergency Business Account ( CEBA) to include many owner-operated small businesses. This extended measure will help small businesses protect the jobs that Canadians rely on.

The changes to the CEBA will allow more Canadian small businesses to access interest free loans that will help cover operating costs during a period when revenues have been reduced, due to the pandemic.

To qualify under the expanded eligibility criteria, applicants with payroll lower than $20,000 would need:

a business operating account at a participating financial institution
a Canada Revenue Agency business number, and to have filed a 2018 or 2019 tax return.
eligible non-deferrable expenses between $40,000 and $1.5 million. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance.

Learn more.

Government of Canada extends Emergency Wage Subsidy

Last week, the Government of Canada announced an extension to the Canada Emergency Wage Subsidy ( CEWS) for an additional 12 weeks to August 29, 2020.

The Government also announced the approval of regulations to extend eligibility for the CEWS to ensure that it continues to support those employers and workers hardest hit by the COVID-19 pandemic, and protects the jobs Canadians depend on.

Read the media release.

Commercial Rent Relief Sample Application Documents

The Canada Mortgage and Housing Corporation has announced the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses application portal is opening in the second half of May.

To help you prepare, sample versions of the application documents are now available on the CMHC website. You can review them in order to have the required information on-hand when the application portal opens.

Learn more.

Schools to Remain Closed for Remainder of School Year

Today, the Ontario government announced that schools will remain closed for the rest of this school year. This decision was made after consulting with the Chief Medical Officer of Health, health experts on the COVID-19 Command Table, and medical experts at The Hospital for Sick Children. At the same time, the government announced planning for the reopening of schools for the 2020-21 school year, the gradual reopening of child care, and the opening of summer day camps subject to the continuing progress in trends of key public health indicators.

Learn more.

Also today, on the advice of the Chief Medical Officer of Health, the Ontario government extended all emergency orders in place to-date under s.7.0.2 (4) of the Emergency Management and Civil Protection Act until May 29, 2020.

APBOT Business Recovery Survey to be Released Tomorrow

We ask APBOT members to watch their inbox TOMORROW for our Business Recovery Survey.

This critical brief survey, will ensure that we can best advocate for you and support your needs during this unprecedented time.

The survey will be open from May 20 to May 29.

Looking for PPE?

As Durham Region businesses prepare to reopen during the COVID-19 pandemic, there will be a need for personal protective equipment as required by Provincial guidelines for various sectors. For more information on the guidelines, please visit the Province’s health and safety guidelines website.

Invest Durham has compiled a list of local area manufacturers who sell or have pivoted to produce these supplies.

Learn more.