Feds expand access to CEBA, announce plans for commercial rent relief

By The Canadian Press | April 16, 2020 | Last updated on April 16, 2020
1 min read
Parliament buildings at sunset

Prime Minister Justin Trudeau says the federal government is expanding a loan program for small businesses suffering from the Covid-19 pandemic and is working on a new support for companies having trouble paying rent.

The loan program will now be open to businesses that had payrolls last year between $20,000 and $1.5 million.

The Canada Emergency Business Account previously offered up to $40,000 in loans to business with payrolls between $50,000 and $1 million.

Trudeau says 195,000 loans worth a total of $7.5 billion have so far been approved.

But he says some businesses and entrepreneurs in need had been excluded, which is why the criteria are being expanded.

Trudeau also says a program is coming to help businesses cover rents for at least three months but the details still need to be worked out with the provinces and territories.

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