South Peace News
In a rare move, Peace River – Westlock MP Arnold Viersen is applauding a move by the federal government to extend the Canada Emergency Business Account [CEBA].
“Small and medium size businesses are the backbone of the Canadian economy and have faced financial hardships due to the COVID-19 pandemic,” says Viersen.
“I hope that this necessary extension will bring relief to businesses that have been unfairly excluded from the CEBA program for the past five months.”
The Government of Canada announced the application deadline for CEBA is extended from Aug. 31 to Oct. 31. The government also advised it is working in partnership with financial institutions to extend the eligibility of CEBA to businesses who qualify but, do not operate from a business banking account.
More details on modifications are set to be released in the coming days, as well as a new business account opening process where qualified businesses will be able to submit their application.
“My office continues to hear from many small businesses facing major economic challenges throughout the COVID-19 pandemic,” says Viersen.
“My colleagues and I have been urging the Government of Canada to extend [CEBA] and open these applications to qualified businesses that are using personal banking accounts,” he adds.