TORONTO, Dec. 4, 2020 /CNW/ - BMO is helping its small and
medium business clients manage the uncertainty of the pandemic by
accepting applications for the expanded Canada Emergency Business Account (CEBA)
directly from the bank's COVID-19 business support page.
Through this expanded program, eligible businesses can apply for
an additional interest free loan of $20,000. The new loan can be used in addition to
the previously announced $40,000 CEBA
loan. Half of this new additional financing would be forgivable if
repaid by December 31, 2022. For
clients looking to apply, the application deadline for CEBA has
been extended to March 31, 2021. For
additional details on CEBA requirements, clients are encouraged to
visit: https://ceba-cuec.ca/.
"We have been unwavering in our support of Canadian small
businesses," said Mike Bonner, Head,
Canadian Business Banking, BMO Bank of Montreal. "The expanded CEBA program provides
smaller businesses with needed relief – especially for those that
are not able to open their doors right now. This pandemic is a
challenge we continue to face together, and our clients have our
full support."
Canada's Bank for
Business
BMO continues to support Canadian businesses
financially affected by COVID with:
- BDC Co-Lending Program for Small and Medium Businesses
- EDC Loan Guarantee for Small and Medium-Sized Enterprises
- Canada Emergency Wage
Subsidy
- Small business resource hub with specialized content and
resources to help businesses navigate COVID-19 and better position
themselves for future growth
In addition to supporting via government relief programs, the
bank has also recently introduced a new, dedicated business banking
team. The team is structured to ensure that small and emerging
businesses in Canada have the
support and resources needed for long-term growth.
Business banking clients are encouraged to visit BMO's dedicated
COVID-19 small business support page for regular updates
and to learn more about relief measures.
About BMO Financial Group
Serving customers for
200 years and counting, BMO is a highly diversified financial
services provider - the 8th largest bank, by assets, in North
America. With total assets of $949 billion as
of October 31, 2020, and a team of diverse and highly engaged
employees, BMO provides a broad range of personal and commercial
banking, wealth management and investment banking products and
services to more than 12 million customers and conducts business
through three operating groups: Personal and Commercial Banking,
BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group