Bank financing - CEBA Program - Updated for Dec 2023 Change et al
- was available thru your primary bank
- was eligible for employers with $50,000 of payroll or more - this is round 1
- was eligible for employers with $20,000 of payroll or more - this is round 2
- up to $40,000 of interest free financing to help to pay for operating costs which could not be deferred. If $30,000 is repaid by December 31, 2023, the rest of the loan will be forgiven. If it is not repaid then the loan will be converted into a 3-year term loan with an interest rate of 5%.
- the CEBA program was expanded by another $20,000, if the business owner can attest that the pandemic continues to impact the profitability and cash flow of their businesses. In similar fashion, $10,000 will be forgiven, if the entire CEBA loan is repaid by December 31, 2023.
The Government has qualified every company who received CEBA, unless fraud is involved; so clients should pay back loans received in Nov or Dec 2023.
Andre & Tracey Bultmann
Bultmann & Company
2816 11th Street NE
Calgary, AB T2E 7S7
Phone: +1 403-250-9254
Fax: Available upon request
Please remember the 15th of each month for your payroll deduction remittances.
Please remember to remit / submit your quarterly GST remittances or returns.
If CRA is mailing us the correspendence, we will take care of the returns.