Weekly show where my featured guests and I explore the financial and business challenges women face on the entrepreneurial journey to success. You'll hear them talk about the money side of their businesses in ways you've always wanted to know about, but wouldn't dare ask. They openly share their disappointments, failures, successes, and everything in-between as they grew sales ranging from 6 to 9 figures. Knowing where your business stands financially helps you make critical decisions with confidence. It's simply the best way to be sure you grow a business that fuels the life you want to live.
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The Details of Canada Emergency Business Account (CEBA) (Government Financing)
*UPDATE - A change in the eligibility criteria*
As of April 16, 2020, organizations will need to demonstrate they paid between $20,000 to $1.5 million in total payroll in 2019. When this podcast was released, an organization that paid a total payroll in 2019 between $50,000 to $1 million.
On Thursday, April 9, 2020, Finance Minister Bill Morneau and Mary Ng, Minister of Small Business, Export Promotion and International Trade, mark the launch of Canada Emergency Business Account (CEBA) which is part of the Business Credit Availability Program (BCAP). Find the details here.
On the same day, major financial institutions opened their online application platform where small business owners can apply for CEBA.
This bonus episode is requested by one of Her CEO Journey's listeners. I shared the following:
1. The terms of CEBA (2:00)
2. An example of how CEBA works (3:15)
3. The type of expenses you can use CEBA for (4:52)
4. Eligibility criteria to apply for CEBA (6:02)
5. What you need to think about and prepare for (7:36)
Check out the list of resources for the Canadian financing program and subsidy.
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Want to untangle your financial story and apply for CEBA? Click here.