Additional $20,000 in CEBA loans now available to small businesses
Starting today, eligible small businesses can access up to $20,000 in loan funding on top of the $40,000 they can already access. To apply for the additional funding, applicants must contact the financial institution that provided their initial CEBA loan. With this new addition, the size of the CEBA loans has increased from the existing $40,000 to $60,000 for eligible businesses. According to Prime Minister Justin Trudeau, the program has helped almost 800,000 small businesses across the country to date. To apply for the additional loan funding, businesses and not-for-profits need to contact the financial institution that provided their initial CEBA loan.