Media Releases Sep 01, 2020

Canadian Chamber Welcomes Canada Emergency Business Account Changes

(OTTAWA) – September 1, 2020 – The Canadian Chamber of Commerce’s Senior Director of Tax and Financial Policy, Patrick Gill, issued the following statement on yesterday’s announced changes for the Canada Emergency Business Account (CEBA) and the Business Credit Availability Program (BCAP).

“Canadian businesses will benefit from the extension of CEBA and BCAP. These programs have been an important lifeline to Canadian businesses during this economic storm. News that changes are coming soon to support businesses using personal banking accounts will also have a positive impact – especially for small businesses and their employees. The Canadian Chamber is pleased to see Ministers Freeland and Ng moving swiftly to introduce these changes.  

New CEBA changes mean new rules to understand. Fortunately, Export Development Canada (EDC) recently launched a call center to help businesses with their CEBA questions and applications. Businesses requiring support should call 1-888-324-4201 to speak with an EDC representative.

The federal government continues to demonstrate an openness to improving its emergency programs for Canadian businesses and their workers. The government must now focus its attention on fixing CECRA. Yesterday, the Canadian Chamber reiterated to the Canadian Mortgage and Housing Corporation the need to extend the Canada Emergency Commercial Rent Assistance (CECRA) program into the fall and winter, and to make the program more flexible and accessible for Canada’s commercial tenants.”   

About the Canadian Chamber of Commerce – Because Business Matters
The Canadian Chamber of Commerce helps build the businesses that support our families, our communities and our country. We do this by influencing government policy, by providing essential business services and by connecting businesses to information they can use, to opportunities for growth and to a network of local chambers, businesses, decision-makers and peers from across the country, in every sector of the economy and at all levels of government, as well as internationally. We are unapologetic in our support for business and the vital role it plays in building and sustaining our great nation.

For more information, please contact:
Phil Taylor