Canada’s COVID-19 Economic Response Plan

Mandatory Credit: Photo by Carolyn Kaster/AP/REX/Shutterstock (9888038e) Canadian Foreign Affairs Minister Chrystia Freeland arrives at the Office Of The United States Trade Representative in Washington Trump US Trade Canada, Washington, USA - 20 Sep 2018

The Government of Canada is taking immediate, significant, and decisive action to support Canadians and businesses facing hardship because of the COVID-19 outbreak.

The CRB provides $500 per week for up to 26 weeks for workers who have stopped working or had their income reduced by at least 50% due to COVID-19, and who are not eligible for Employment Insurance (EI).

Canada Emergency Business Account (CEBA) interest-free loans are available to help the businesses. It provides interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced. This program has been implemented by banks and credit unions in collaboration with Export Development Canada.

Business owners can apply for support from CEBA through their banks and credit unions.This support is available until December 31.

The cabinet committee will continue to monitor the health impacts of the virus to make sure the government response takes all possible measures to prevent and limit the spread in Canada, Trudeau said in a written release Wednesday.