TORONTO, April 8, 2020 /CNW/ - RBC announced
today that the online-only enrollment process to participate in the
Government of Canada's
Canada Emergency Business
Account (CEBA) will be live on April 9,
2020 via RBC Online Banking for Business. Eligible
businesses will receive a $40,000
government-funded loan to cover short term operating expenses,
payroll and other non-deferrable expenses which are critical to
sustain business continuity.
"We understand how important and time-sensitive this relief is
for businesses across Canada in
order to support their workforce and sustain business continuity,"
said Greg Grice, Executive
Vice-President, Business Financial Services for RBC. "We've created
a self-serve, digital-only enrollment process so that we can
quickly and seamlessly deliver critical funds to eligible
businesses through our existing RBC Online Banking for Business
channel."
To enroll for CEBA, clients must log into their RBC Online
Banking for Business account as the online enrollment process for
RBC clients will only be available through this platform. If
clients are not registered for online banking, they can do so by
visiting RBC's Online Banking for Business registration page. As
part of the enrollment process, clients will need four things:
- Update their email and contact details within their RBC
Online Banking for Business profile before starting their
enrollment
- Their RBC business client card number
- Their organization's 2019 T4 Summary of Remuneration Paid
statement. They can also contact the Canada Revenue Agency to
have them re-issue their organization's 2019 statement
- Confirm that the person enrolling for CEBA has the authority
to attest on behalf of the organization and legally bind the
organization to the terms of the CEBA loan agreement.
RBC Express clients who are not enrolled for Online Banking for
Business will need to contact their RBC Account Manager for
separate instructions on CEBA enrollment.
Clients who need more information about CEBA and its eligibility
requirements should visit The Government of Canada's website for more information.
More information about how RBC is supporting businesses across
Canada during these times can be
found at www.rbc.com/businessrelief.
About RBC
Royal Bank of Canada is a global financial institution with
a purpose-driven, principles-led approach to delivering leading
performance. Our success comes from the 85,000+ employees who bring
our vision, values and strategy to life so we can help our clients
thrive and communities prosper. As Canada's biggest bank, and one of the largest
in the world based on market capitalization, we have a diversified
business model with a focus on innovation and providing exceptional
experiences to our 17 million clients in Canada, the U.S. and 34 other countries. Learn
more at rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/community-social-impact.
SOURCE RBC Royal Bank