The Business Hub
Apr 14, 2020

With a variety of funding and resources in place for businesses, it's easy to feel overwhelmed with all of the options. Below is a breakdown of each program being offered, who might be best suited for them, program limitations, and more.

Canadian Emergency Response Benefit (CERB)

This program is intended for individuals more so than business owners. If you are a business owner that has fully stopped working, you could qualify.

Dollars & Cents: $500/week for up to 16 weeks


Saskatchewan Small Business Emergency Payment (SSEP)

This program is designed for small business owners that were ordered to temporarily close or significantly curtail operations due to COVID-19.

Dollars & Cents: 15% of monthly revenues up to $5,000. Financial information is pulled from April 2019 OR February 2020, businesses may select either month to calculate their payments.

Program limitations: Business owners applying for SSEP must intend on re-opening.


Canada Business Emergency Account (CEBA)

This is a loan program that business owners can apply for through their bank or financial institution. The intent of the program is to assist business owners with operating costs such as rent, utilities, insurance, property tax, and debt service.

Dollars & Cents:

  •  Interest-free loans up to $40,000. If the loan is repaid by December 31, 2022, 25% (up to $10,000) will be forgiven.
  • If the loan is not repaid by December 31, 2022, the remaining balance will be converted to a three-year term loan at 5 per cent interest.

Program Limitations: Businesses must have had salaries paid in 2019 of between $20,000 to $1.5 million and have been in operation as of March 1st, 2020. 

For those who are self-employed or contract workers, please refer to the Government of Canada’s Canada Emergency Response Benefit for further support and details.

Contact your banking representative or financial institution today to begin the application process.

Canada Emergency Wage Subsidy (CEWS)

75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15th, 2020.

How to apply: Eligible employers will be able to apply for the CEWS through the Canada Revenue Agency's My Business Account portal. Employers will need to keep records demonstrating their reduction in arm's-length revenues and remuneration paid to employees. More details about the application process will be made available shortly.

Program Overview: Eligible employers include:

  • Individuals
  • Taxable corporations
  • Partnerships consisting of eligible employers, non-profit organizations and registered charities. Those that see a drop of at least 15% of their revenue in March 2020 and 30% for the following months.

Interested in learning more? Nadine Dyck with Stark & Marsh highlights the biggest take aways regarding CEWS.


Subscribe to our newsletter

Sign up now to get advice about tax deductions, growing your income and managing your finances delivered straight to your inbox.