COVID Small Businees Support

CEBA is live at NDCU

As a strong corporate citizen with a future in our communities, you may be able to leverage the COVID-19 government stimulus loan.

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?
- Did you pay between $20,000 and $1.5mm in salaries last year as shown by your 2019 T4Summary document?
- Do you intend to re-open your business or continue operations after current restrictions are lifted?

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.

This federal loan is available for a limited time.

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

If you are a Nelson & District Credit Union small business member in need of emergency financial support due to the impact of COVID-19, we can help.

Finance Canada has confirmed that they will work with all credit unions to bring the Canada Emergency Business Account (CEBA) program to Canadian small businesses before the end of April. With this knowledge we are now pleased to announce that this product will be available to all eligible credit union members later this month.

All businesses with payroll between $20,000 and $1 million in 2019 are eligible to apply for the $40,000 CEBA loan, backed by the Government of Canada. Further eligibility and information requirements will be published in the coming days.

Please Note: While it may take some time to get the program up and running, no Members will be disadvantaged by this. Everyone who meets the eligibility criteria will have access to CEBA funds.

Specific questions, or requests to participate, can be directed to CEBA@nelsoncu.com


Resources

Governement 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.
 

Small Business FAQs