Canadian Emergency Business Account

Entegra is committed to supporting our business members impacted as a result of COVID-19 by providing access to the Government of Canada’s Canada Emergency Business Account.

Canada Emergency Business Account (CEBA)

The Canada Emergency Business Account provides a $40,000 loan for eligible small businesses and not-for-profits. This Government of Canada program is designed to help cover operating costs for businesses during a period where their revenues have been temporarily reduced due to the economic impacts of the COVID-19 virus.

CEBA Loan Details

The program provides $40,000 in loans that are interest-free up until December 31, 2022. No minimum monthly principal payments are required until December 31, 2022. Repaying the balance of the loan on or before December 31, 2022, will result in loan forgiveness of 25% (up to $10,000).

What Businesses are Eligible?

Our Business Members must meet all of the following Government of Canada program criteria to be eligible:

  • Must be a Canadian-operating business in operation as of March 1, 2020, and have a federal tax registration. Charities must be a registered T2 or T3010 corporation that generates a portion of its income from the sale of goods or services.
  • Must have paid a total employment income (payroll) of between $20,000 and $1.5 million in 2019. Note, you will need to indicate:
    • Your Canada Revenue Agency Business Number (BN) (15 digits), as reported at the top of your 2019 T4 Summary of Remuneration Paid (T4SUM)
    • The employment income reported in Box 14 of your 2019 T4SUM
  • Must be able to provide your 2019 T4SUM when requested upon audit by the Government of Canada.
  • Must have an active business chequing/operating account with us.
  • Entegra must be the primary financial institution for your business.
  • Your business’s account must have been opened on or before March 1, 2020, and must not have been in arrears as of March 1, 2020.
  • Your business must not have previously used the program and must agree not to apply for it through any other financial institution.
  • You must acknowledge your intent to continue to operate your business or resume operations. You must agree that funds will only be used to pay non-deferrable operating expenses such as payroll, rent, utilities, insurance, property tax and regularly scheduled debt service, as defined in the program requirements.

Apply Now

If you would like to apply for the Government of Canada’s CEBA Financial Relief Program, please email Commercial@entegra.ca, and a member of our Commercial Team will contact you to begin the application process.

Please note:
To ensure member information remains confidential and protected, we will be using our secure email portal to send CEBA application forms. Please respond to our emails within this secure portal when submitting your application to protect your business account information.

If you would like to discuss this option further, Business members can contact:

Neil Wood
Commercial Account Manager
(204) 924-5363
NWood@entegra.ca

Charity Allen
Commercial Credit Officer
(204) 949-7832
CAllen@entegra.ca

 

Find Branch/ATM

Enter address, postal code or branch name

Calculators