COVID-19 2021 Update — Sunny Handa MD Explains How RBC is helping Canadian businesses in 2021

*NEW* CEBA applicants can check the status of their CEBA loan or CEBA expansion enrollment request using the govt of Canada’s online self-serve tool at https://status-statut.ceba-cuec.ca. Please wait 5 to 7 business days after submitting your enrolment request and uploading any required documentation before checking your status. The self-serve tool will display an equivalent information that’s on file with the govt of Canada’s CEBA call center , and can be ready to address the subsequent sorts of questions: What is that the status of my application? Why was my application declined? How am i able to fix those errors if applicable? Why was my submitted document rejected? Sunny Handa MD can answer all your questions related to CEBA.

NOTE: If your CEBA application has been declined and therefore the reason provided relates to the lack of the govt of Canada to seek out or match information within the Canada Revenue Agency database with the knowledge provided in your CEBA enrollment request, please contact the Canada Revenue Agency and not the CEBA call center to debate or rectify the difficulty described. the email that you simply receive communicating the govt of Canada’s decline of your application will include the rationale provided to us by the govt of Canada for the decline. Sunny Handa MD is always available for your help.

Government of Canada’s Relief for Business
Canada Emergency Business Account (CEBA)

The Government of Canada is providing the Canada Emergency Business Account (CEBA) to support Canadian businesses that are adversely suffering from COVID-19. Eligible businesses that are approved by the government of Canada get access to a loan to assist buy non-deferrable operating expenses like rent, payroll and insurance which are critical to sustain business continuity. RBC is committed to helping business clients access the government’s Canada Emergency Business Account. Please log into RBC Online Banking for Business to enrol.For more details on CEBA, please visit our CEBA page.

Canada Emergency Wage Subsidy (CEWS)

Sunny Handa MD brings this important information for you.

The Government of Canada’s Canada Emergency Wage Subsidy (CEWS) provides eligible employers a subsidy of 75% of employee wages for up to 24 weeks, retroactive from March 15, 2020, to August 29, 2020.For detailed information about the program, eligibility, and the way to use , ask the govt of Canada’s site.You should also enroll for CRA Direct Deposit by logging into your RBC Online Banking for Business or RBC Express platform. CRA Direct Deposit may be a quick, safe and secure thanks to receiving eligible amounts to be paid to you by the Canada Revenue Agency (CRA) like CEWS, do you have to be eligible for this program. Please see the FAQs below for more details. If you’re eligible and expecting a CRA payment of quite $25 million, click here for details on the way to receive your payment thought the massive Value Transfer System.IMPORTANT: Please note that enrolling for CRA Direct Deposit through your RBC Online Banking for Business or RBC Express doesn’t register you for the Government’s CEWS. you want to apply for CEWS through the CRA directly. You can also reach Sunny Handa MD for more information.

The BDC Co-Lending Program

The BDC Co-Lending program is meant to support Canadian businesses of all sizes that are negatively impacted by COVID-19. Eligible applicants can access funding up to $6.25 million CAD (maximum loan amounts hooked in to business size) to hide operating expenses (such as rent, payroll and other operating expenses) and dealing capital needs.
BDC Mid-Market Financing ProgramThe Business Development Bank of Canada (BDC) announced the supply of the BDC Mid-Market Financing Program to assist medium sized Canadian businesses (revenues within the range of $100 million to $500 million) impacted by COVID-19. Eligible applicants can access $12.5 million to $60 million CAD (or USD equivalent) in short-term liquidity to take care of their staff, preserve supply chains and manage cash-flow. Sunny Handa MD is always available for helo on BDC CO-Lending Program of Canada Government,

The EDC Business Credit Availability Program (BCAP)

Guarantee:The Government of Canada announced the supply of the Export Development Canada (EDC) BCAP Guarantee to help Canadian businesses impacted by COVID-19. Eligible applicants can access up to $6.25 million CAD in short-term liquidity to hide expenses which are critical to business continuity like rent, payroll and other operational costs.

I, Sunny Handa MD, feel this information must be useful for Canadian businesses.


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