TORONTO, June 26, 2020 /CNW/ - Scotiabank announces
that it is ready to accept applications for the next phase of the
Canada Emergency Business Account
(CEBA), with expanded eligibility that enables a broader group of
businesses to apply for the financial relief program.
"We're pleased to see the government introduce phase three of
the CEBA program and open eligibility up to more businesses in need
of support during this challenging time," said Dan Rees, Group Head of Canadian Banking for
Scotiabank. "We're excited to help even more small businesses gain
access to relief funds and continue providing advice and solutions
to help them come out of this even stronger."
As part of this third phase of CEBA, the federal government set
out new terms that require Export Development Canada (EDC) to
approve eligibility before funding is released. While Small
Business and Business Banking clients will still be required to
provide an attestation to Scotiabank as part of the application
process, EDC will also request additional documentation before a
loan can be approved. For more details on eligibility criteria,
customers are encouraged to contact their Small Business Advisor or
Relationship Manager.
Scotiabank stands behind Canadian
businesses
Scotiabank was recently rated the leading bank in
client satisfaction according to the Bond COVID-19 Canadian Client
Impact Study.
Relief measures in support of eligible Canadian Business Banking
and Small Business clients affected by COVID-19 include:
- Deferral of payment on small business credit cards and credit
lines;
- Payment deferral on business loans;
- Online application for the Canada Emergency Business Account (CEBA);
- Online application for the Canada Emergency Wage Subsidy (CEWS);
- Support through the Business Development Bank of Canada (BDC) financial relief program;
- Support through the Export Development Canada (EDC) financial
relief program;
- Continued access to Small Business Advisors and Business
Banking Relationship Managers for customized advice.
For more information on all of our relief programs for
individuals and businesses, please visit Scotiabank.com.
About Scotiabank
Scotiabank is a leading bank in the
Americas. Guided by our purpose: "for every future," we help our
customers, their families and their communities achieve success
through a broad range of advice, products and services, including
personal and commercial banking, wealth management and private
banking, corporate and investment banking, and capital markets.
With a team of approximately 97,000 employees and assets of over
$1.2 trillion (as at April 30, 2020), Scotiabank trades on the Toronto
Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).
For more information, please visit our website and follow us
on Twitter @ScotiabankViews.
SOURCE Scotiabank