Please note: the federal government is constantly updating their website as new information is announced. Remember to check Canada’s official coronavirus webpage and CREA’s COVID-19 online hub to stay up to date.
As some provinces re-enter strict lockdowns to combat the spread of COVID-19, here are the financial assistance options currently available to Canadians and Canadian businesses from the federal government:
- the Canada Emergency Wage Subsidy (CEWS), a wage subsidy to help businesses keep and re-hire employees and avoid layoffs. The CEWS has been extended until June 2021.
- the Canada Emergency Business Account (CEBA) provides interest-free, partially forgivable, loans to small businesses and not-for-profits that have experienced diminished revenues due to COVID-19, but face ongoing non-deferrable costs, such as rent, utilities, insurance, taxes and wages. The deadline to…