Today the Government of Canada announced greater flexibility and extension of the application deadline for the Canada Emergency Business Account (CEBA).
Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, announced that the application deadline for the CEBA program is extended from August 31 to October 31, 2020. In addition, the government indicated that they are working closely with financial institutions to make the CEBA program available to those with qualifying payroll or non-deferrable expenses that have so far been unable to apply due to not operating from a business banking account. Further details on these changes will be released in coming days, including a new business account opening process through which qualifying businesses will be able to apply.
In addition, Minister Freeland also announced that the Business Credit Availability Program (BCAP) has been extended to June 2021.
For more information, please see the News release on the Department of Finance Canada Webpage.
Industry Engagement Division
Agriculture and Agri-Food Canada
Government of Canada