Insights

On July 17, 2020, the Canadian federal government announced the expansion and extension of the Canada Emergency Wage Subsidy (CEWS) program. Among the proposed changes, as of July 5, 2020, any business, charity and not-for-profit organization in Canada that has experienced a decline in “qualifying revenue” will be entitled to a subsidy. The CEWS has been…

The Canada Emergency Business Account (CEBA) provides interest-free loans of up to $40,000 ($10,000 of which is forgivable) for small businesses and not-for-profit organizations. An additional $20,000 (half of which is forgivable) has also been made available for applicants specifically impacted by COVID-19. How does the expanded CEBA work? The expanded CEBA provides applicants who…