RBC Now Accepting Applications for the Government of Canada’s Expanded CEBA Loan Program
from Canada Bank # 1 continues to provide essential government resources, solutions, initiatives, and government assistance programs such as CEBA to support the recovery and growth of Canadian businesses
TORONTO, December 4, 2020 / CNW / – As Canadian businesses continue to face economic uncertainties and operational limitations caused by the pandemic, RBC is pleased to accept the demands of the Government of from Canada extended Canada Emergency Business Account (CEBA) to lend. Our online application process is now open to all RBC business clients who are either current CEBA recipients seeking a $ 20,000 increase to their $ 40,000 CEBA loan, or new in the CEBA program and applying for the expanded program $ 60,000 to lend.
“Many business owners continue to face the financial implications of the protracted COVID-19 pandemic, and the government’s expansion of the CEBA program comes at a critical time as Canadian businesses seek ways to persevere in these hard times, ”said Greg Grice, Executive Vice President, Corporate Financial Services at RBC. “RBC remains committed to supporting our clients every step of the way, and we are delighted to facilitate the government’s expanded CEBA program to provide more support to businesses during these difficult times. “
The deadline to apply to CEBA is March 31, 2021 and candidates must meet with the government of from Canada eligibility criteria, as described online at https://ceba-cuec.ca/. All applications for new CEBA loans and increases to existing CEBA loans will be considered and decided by the Government of Canada.
To date, RBC has processed over 177,000 approved CEBA requests through our online self-service process, representing over $ 7 billion full CEBA relief to support Canadian businesses.
In addition to the CEBA, RBC continues to facilitate the delivery of critical government assistance programs such as BDC and EDC’s business credit availability programs, the Canada Emergency Wage Subsidy (SSUC) and Canada Emergency Rent Aid (CERS).
Mobilize support for local businesses
The support of Canadians is essential to the successful recovery of Canadian small businesses and the resilience of our economy. In an effort to rally Canadians to “show some love to the locals,” RBC launched its United Canada campaign in August. The initiative brought together more than 70 corporate brands, Canada’s national network of chambers of commerce, business associations and 44 municipalities to encourage Canadians to shop, dine and source locally.
During the Canada United Weekend (August 28-30), RBC clients have led more than $ 1 billion in credit and debit card purchases from businesses across the country. RBC funded Points for Canada The campaign helped drive customer engagement by providing RBC Rewards customers with more value when they shop, travel or dine locally.
The initiative also included the launch of the United Canada Small Business Fund. Thanks to the generous contribution of the federal government, the Fund has raised more than $ 14 million provide grants of up to thousands of eligible small businesses to $ 5,000. This grant aims to cover expenses related to: personal protective equipment (PPE); renovations to accommodate reopening directives; and developing or improving e-commerce capabilities.
Helping businesses adapt and plan for the future
“The way we live, shop and work continues to change rapidly and the effects of the pandemic have only accelerated this rate of change, with a profound impact on small businesses,” says Lori Darlington, Vice-President, Small Business and Strategic Partnerships at RBC. “As businesses adapt to become more agile, resilient and digitally enabled, RBC remains focused on delivering the latest, most relevant solutions and personalized advice to support the recovery journey and unique needs. every business. ”
Solutions available to RBC business clients include:
- Owner, a fast, affordable and online way to register or incorporate a business. To support entrepreneurs during the pandemic, Ownr has partnered with Shopify, Staples and Moneris to launch a $ 200,000 Canada Starts Fund for aspiring entrepreneurs. The owner also launched Subsidies to homeowners – a $ 25,000 funds to help entrepreneurs cover part of the costs of their new businesses;
- RBC Insight Edge ™ for small businesses enables retail customers to use real-time data on changing consumer spending habits, customer demographics and new purchasing models to help inform operational and strategic business decisions ;
- A selection of business account packages that can be opened remotely by one or more business owners through a hands-on process assisted by a virtual advisor and award-winning digital payment solutions such as RBC PayEdge;
- NOMI ™ Insights for companies – a feature available through the RBC mobile app to provide owners with valuable financial information such as cash flow and expense analyzes across various purchasing categories;
- An integrated, all-in-one online payment, e-commerce and shipping solution through RBC’s partnership with Moneris, Bookmark and UPS to start and grow your online business;
- A partnership with The next door to offer “Open to Business Powered by RBC” – an initiative to help revitalize local businesses by connecting them with community members who are most likely to shop, dine and use the services offered by these establishments. RBC clients enjoy additional benefits on the Nextdoor platform;
- Third-party digital solutions such as Magnet, ADP, League and Wello attract talent, effectively manage payroll and employee health and wellness benefits, and virtually support employee mental and physical health; and
- Many of these online business tools, resources and advice can be accessed by entrepreneurs through the RBC Small Business Navigator at https://www.rbcroyalbank.com/business/small-business-navigator/index.html.
For more details on CEBA, visit www.rbc.com/ceba.
Royal Bank of Canada is a global financial institution with a goal-oriented and principle-driven approach to delivering world-class performance. Our success comes from the more than 86,000 employees who use their imaginations and ideas to bring our vision, values and strategy to life so that we can help our customers thrive and communities thrive. As from Canada largest bank and one of the largest in the world by market capitalization, we have a diverse business model driven by innovation and delivering exceptional experiences to our 17 million customers across Canada, the United States and 34 other countries. Learn more about rbc.com.
We are proud to support a wide range of community initiatives through donations, community investments and employee volunteer activities. See how to rbc.com/community-social-impact.
SOURCE RBC Royal Bank
For further information: Yuri Park, RBC, 437-229-2742, [email protected]; AJ Goodman, RBC, 647-286-4032, [email protected]