Retailers are now able to access a second Canadian Emergency Business Account (CEBA) loan of up to $20,000 – on top of the initial $40,000 that was available previously. This additional loan effectively increases CEBA loans from the existing $40,000 to $60,000 for eligible retailers. If the loan is repaid by December 31st, 2022, $20,000 of the loan will be forgiven.
Furthermore, based on RCC’s recommendation, the government has extended the application deadline to March 31st, 2021.
More information on this program and recent changes can be found on RCC’s CEBA overview.