Legally get $10,000 free from the government.

Attention all business owners!!

There is finally some relief for business owners. Major banks such as TD, RBC, CIBC, Scotiabank and BMO are now allowing their clients to apply online for the Canada Emergency Business Account (CEBA).

The application is online only and you can get $10,000 free if you are approved and repay the loan on or before December 31, 2022.

The CEBA loan includes:

• A $40,000 interest-free (until December 31, 2022), government guaranteed loan to help you pay for operating costs that you’re not able to defer as a result of COVID-19.
• $10,000 (25%) of the $40,000 loan is eligible for complete forgiveness if $30,000 is fully repaid on or before December 31, 2022.
• If the loan is not repaid by December 31, 2022, it will be extended for an additional 3 year term bearing an interest rate of 5% per annum.
• The loan can be repaid at any time without penalty.

Take the loan and pay it back to get free $10,000!!!

For any business questions #callLAWBOOTH

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