COVID-19 and the collapse of oil prices continue to create immense challenges for Albertans and their businesses. As we navigate our way through this uncharted territory, ATB Financial is here to offer practical solutions and connect you to meaningful advice that can help right now.
ATB has now launched the enrollment process for our business and not-for-profit customers looking to receive funding from the federal government’s Canada Emergency Business Account (CEBA).
What it is
CEBA is designed specifically to help small and medium sized businesses access the money they need to keep their business in business. It will provide interest-free loans of up to $40,000 for businesses and not-for-profits to help cover non-deferrable operating costs such as payroll, rent, utilities, insurance, property tax and regularly scheduled debt service. If you are able to repay your loan in full by December 21, 2022, you will receive a 25 per cent loan forgiveness (up to $10,000).
Who’s eligible?
In order to qualify for the federal government’s CEBA, your business must:
- Have been registered and operational as of March 1, 2020
- Be able to demonstrate that you paid between $50,000 to $1 million in total payroll in 2019.
In order to complete your enrollment, you will need to be able to provide information from your 2019 T4 in the coming days. If you can’t find it, you can contact the Canada Revenue Agency and ask them to reissue your 2019 statement.
It is advised you have your ATB Online Business banking credentials. If you are not already registered for ATB Online Business banking, simply fill out this form to get started.
Connect with us for updates and information
As the COVID-19 crisis continues to evolve, we’ll keep you updated at atb.com with new details on ATB’s Customer Relief Program and information on any government initiatives intended to support businesses during the crisis.
As always, if you have questions or need help, you can contact the ATB team member you usually work with, email us or call 1-800-332-8383.
We know it’s hard to make sense of how much has changed, but ATB is here to help you respond to and recover from this crisis in every way we can.
Together, we will get through this.
Curtis Stange
President & CEO, ATB Financial
