Canada Emergency Business Account eligibility expanded
The federal government is expanding eligibility for small businesses to apply for the Canada Emergency Business Account.
Prime Minister Justin Trudeau said that people who are the sole owner of a business, or depend on contracted employees or have a family-run enterprise and pay dividends to staff you are now able to access the $40,000 loans. If a business can repay the loan by the end of 2022 then $10,000 of the money will be forgiven. Trudeau says over 600,000 businesses have already applied.
Trudeau also says the country has added hundreds of thousands of masks, visors, and other personal protective equipment and is expecting respirators from the United States that will be distributed to provinces and territories. He also says there are now 15 contracts with businesses in Canada to produce equipment including gowns.