{"id":393662,"date":"2020-12-04T13:24:19","date_gmt":"2020-12-04T18:24:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=393662"},"modified":"2020-12-04T13:24:19","modified_gmt":"2020-12-04T18:24:19","slug":"scotiabank-small-business-customers-can-now-apply-for-additional-financing-through-expanded-ceba-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/scotiabank-small-business-customers-can-now-apply-for-additional-financing-through-expanded-ceba-program\/","title":{"rendered":"Scotiabank small business customers can now apply for additional financing through expanded CEBA program"},"content":{"rendered":"
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Canada NewsWire<\/p>\n<\/p><\/div>\n

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\n TORONTO<\/span>, Dec. 4, 2020<\/span> \/CNW\/ – Scotiabank announces that it is ready to support business owners through the next phase of the Canada<\/span> Emergency Business Account (CEBA) program. The CEBA program now includes $20,000<\/span> in additional financing for eligible existing recipients and $60,000<\/span> for eligible new applicants. In addition, the deadline to apply has been extended to March 31<\/span>st<\/sup>, 2021. <\/p>\n

As part of this next phase of CEBA, the federal government has expanded the support for small businesses to provide an additional $20,000<\/span> in interest-free financing for a limited time. This expansion will be available to all eligible existing borrowers who already received the $40,000<\/span> loan. For new CEBA applicants, they can now apply for a loan of $60,000<\/span> if they qualify under the program requirements. In addition, the federal government is increasing the maximum forgivable amount from $10,000<\/span> up to $20,000<\/span> if the total CEBA amount borrowed is repaid by December 31, 2022<\/span>. The amount of forgiveness is dependant on a number of variables including loan size, which are detailed in the FAQs on the CEBA website<\/a>. <\/p>\n

“Scotiabank commends the federal government for expanding support for small businesses across Canada<\/span> with additional financing when they need it most,” said Dan Rees<\/span>, Group Head, Canadian Banking, Scotiabank. “With restrictions increasing across the country, these funds are an essential resource for many small businesses. We’re proud to be able to continue helping business owners with access to these programs, advice and solutions as they navigate the months ahead.”<\/p>\n

For customers interested in applying for the CEBA program or for information on Scotiabank’s support for small businesses, please visit: https:\/\/www.scotiabank.com\/ca\/en\/personal\/scotia-support\/business-banking.html<\/a>\u00a0<\/p>\n

\n Scotiabank stands behind Canadian businesses
<\/b>Scotiabank was recently rated the leading bank in client satisfaction according to the Bond COVID-19 Canadian Client Impact Study<\/a>. <\/p>\n

Scotiabank’s support for eligible Canadian Business Banking and Small Business clients affected by COVID-19 include:<\/p>\n