Shuswap businesses that do their banking with the Salmon Arm Savings and Credit Union (SASCU) will soon be able to apply for a Canada Emergency Business Account (CEBA) directly through the credit union.
The CEBA is a $25 billion federal fund that provides interest-free loans of up to $40,000 for small businesses and non-profit groups in order to help cover their operating costs while their operations are being impacted by the COVID-19 virus.
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Businesses will be able to apply to the fund through SASCU. According to SASCU, helping administer applications to the CEBA complements the credit union’s payment relief program launched in early April. CEBA applications will be accepted beginning on April 30. SASCU business members will be able to apply to the CEBA through their online banking account.
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“We understand that cash flow during uncertain times is extremely important so being able to support our members with the CEBA program was critical,” said SASCU senior manager Dan Morin.
“We have been working with our members to help with cashflow issues and this program will have a tremendous impact for many of our members.”
jim.elliot@saobserver.net
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