Updated: the Canada Emergency Business Account (CEBA) which will allow sole proprietors operating through a personal banking account to access the program.
Last week, the Canada Government that has an official announcement of the program CEBA expansion was just made October 26, 2020, and can be found here.
For those small business who are sole proprietors, this change to CEBA will allow these businesses to access interest free loans up to $60,000, with a portion of this financing being forgivable if repaid by December 31, 2022.
We are pleased to see the Government of Canada expanding access to sole proprietors with this important change.
More information about the Canada Emergency Business Account (CEBA) can be found here.
