Market Overview

Scotiabank ready to support more Canadian businesses through the expanded CEBA program

Share:

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

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2020/26/c4367.html

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com