COVID Small Business Support Ends October 31
CEBA is ending October 31, 2020
As a strong corporate citizen with a future in our communities, you may be able to leverage the COVID-19 government stimulus loan.
This federal loan is only available until October 31, 2020.
Each government-backed loan is $40,000 with repayment and relief options.
Do you qualify for CEBA at NDCU?
- Is NDCU your primary banking relationship?
- Do you have a Canada Revenue Agency business number?
- Do you intend to re-open your business or continue operations after current restrictions are lifted?
There are now two types of CEBA applications:
1. Payroll Eligibility – for business members with total employment income paid to employees in the 2019 calendar year was between $20,000 and $1,500,000.
2. Non-Deferrable Expenses Eligibility – for business members with $20,000 or less in total employment income paid in the 2018 or 2019 calendar year.
Our Canada Emergency Business Account (CEBA) application site is now live in order to allow for members to apply electronically.
Access is available to our small business members using MemberDirect Online Banking.
Please email or call us determine if you qualify prior to applying online.
Email your questions to CEBA@nelsoncu.com
Call 250.352.7207 (1.877.352.7207) and press ‘4’ for Commercial Services
NDCU IS A CEBA PROGRAM PARTICIPANT
ResourcesGovernement of Canada - What is CEBA?
Finance Canada and EDC have confirmed that they will work with all credit unions to bring the Canadian credit union system into the program. This means our credit union will offer access to CEBA for their qualifying small business members.
The most up-to-date Frequently Asked Questions resource, for small business participant members, can be found HERE.
Take care and thanks for your patience.
