Eligible businesses receive a $40,000 loan for immediate financial support to cover short term operating expenses, payroll and other non-deferrable. Update August 31, 2020. Learn moreabout CIBC SmartBanking for Business. If you need help or have questions about the federal government’s eligibility criteria, application process and loan details, please visit our Canada Emergency Business Account FAQs page. This includes personalizing CIBC content on our mobile apps, our website and third-party sites and apps. To learn more about how we do this, go to Manage my advertising preferences. Canada Emergency Business Account (CEBA) CEBA has been extended to October 31, 2020, making the program accessible longer to Canadians. Canada Emergency Wage Subsidy extended to June 2021, as CEBA small business loans expanded The federal government of Canada announced on Friday a number of expansions for COVID-19 relief programs for business, including the official extension of the Canada Emergency Wage Subsidy (CEWS) and additional loans through the Canada Emergency Business Account (CEBA). CEBA is just one of the financial relief measures that CIBC has announced to help you and your business during these challenging times. Plus, get a first-year annual fee rebate.1. If you have already applied for CEBA and have questions, please contact the CEBA Call Centre at 1-888-324-4201. On August 31, 2020, the Government of Canada announced that the Canadian Emergency Business Account (CEBA) offering was extended. Opens a new window in your browser, Punjabi. Speak to your advisor about your borrowing needs. COVID-19 relief update – Canada Emergency Business Account loan program expanded, The CEBA application process is quick and easy. We apologize for any inconvenience. We wanted to update you that the federal government is expanding the Canada Emergency Business Account (CEBA) loan program for small businesses. CEBA – Canada Emergency Business Account – Update June 2020 Written by Heather Bowie, CPA, CA on Jun. Under the expanded terms, businesses and not-for-profits with an annual payroll between $20,000 and $1.5 million will now be eligible to apply for CEBA beginning Friday, April 17. Senior Executive Vice-President and Group Head, Personal and Business Banking. The full CIBC website is available in English and French. Interest-free loans of up to $40,000 to eligible businesses. about the CIBC Aventura Visa Card for Business. Are you sure you want to delete this saved card number? CIBC uses cookies to understand how you use our website and to improve your experience. Please visit our COVID-19 business page regularly for the most up-to-date information on all relief measures available or contact your CIBC Advisor. This equates to up to $2.68 billion in interest-free loans to Canadian farmers, 25% of which is forgivable. for a CIBC banking centre or ATM. For full information about the program and the quickest and easiest way to apply, visit our COVID-19 business page. Canadian Imperial Bank of Commerce Website - Copyright © CIBC. Get a clear view of your banking, accounting and payroll all in one place with CIBC SmartBanking™ for Business. Opens a new window in your browser. Upon approval, you will receive a confirmation email from CIBC, and the $40,000 loan will be deposited into your existing CIBC Business Operating Account. Some sections of CIBC.com are also available in the following languages: Simplified Chinese. The changes allow an estimated additional 36,566 farms nation-wide to access the CEBA, for a total of over 67,000 eligible farms across Canada. Please ensure your business is registered for CIBC Online Banking for Business, and if it isn’t, please register hereOpens a new window in your browser.