Prime Minister Justin Trudeau has announced new measures to support businesses during the pandemic. They include expanding the Canada Emergency Business Account (CEBA) and initiating a plan to help businesses with rent payments.
In a statement, the federal government said it is expanding CEBA to businesses that paid between $20,000 and $1.5 million in total payroll in 2019.
This new range will replace the previous one of between $50,000 and $1 million, and will help address the challenges faced by small businesses to cover non-deferrable operating costs. Since the launch of the CEBA on