The federal government is delaying the start-date for the expansion of the CEBA.
Finance Minister Bill Morneau announced on Twitter late last night that the promised expansion of the Canada Emergency Business Account (to include small owner-operated businesses) will not launch today as scheduled.
The CEBA is a COVID-19 relief program aimed to help businesses access loans to cover the costs of keeping their enterprise afloat during the pandemic.
It provides $40,000 loans that are guaranteed by the federal government, which are interest-free for the first year.
For more details on the program, please click here.
The expanded #CEBA will no longer launch tomorrow. Work continues around the clock to ensure the program can securely launch across over 230 financial institutions. We know how important the program is to small businesses & want to launch as quickly as possible. Updates to come.
— Bill Morneau (@Bill_Morneau) June 19, 2020