
CEBA
Canadian Emergency Business Account
Updated Changes
The Government of Canada has announced further changes to CEBA support including:- Expansion of the zero-interest loan amount to $60,000 for all eligible new CEBA applicants.
- An additional $20,000 loan available to eligible previous CEBA applicants that continue to be seriously impacted by the pandemic.
CEBA 5.0
The Government of Canada announced changes to the Canada Emergency Business Account (CEBA) loan to provide Canadian businesses more support during these financially difficult times.
The CEBA program has expanded to include businesses that qualify under the existing criteria, but were unable to apply previously due to not having a business operating account or having opened one prior to March 1, 2020. A pre-screening tool has been established that applicants must complete before applying with their financial institution. This tool will inform applicants whether they may or may not be eligible for the CEBA loan. Click here to access the pre-screening tool.
- It’s a $60,000 loan to help eligible businesses pay for operating expenses, payroll and other non-deferrable expenses which are important for business continuity.
- Until December 31, 2022, the Canada Emergency Business Account will be funded as a term loan with no interest and no payments.
- Beginning January 1, 2023, interest accrues on the balance of the term loan at the rate of 5% per annum, payable monthly on the last day of the month.
- If you pay 75% of the balance of the term loan on or before December 31, 2022, the remaining balance of your term loan will be forgiven. For example, if your balance is $60,000 on January 1, 2021 and you repay $40,000 on or before December 31, 2022, the remaining $20,000 will be forgiven.
- If you do not repay the 75% of the balance of the term loan on or before December 31, 2022, the full loan balance and all accrued and unpaid interest will be due and payable on December 31, 2025.
- Once your loan application has been reviewed and submitted the process for funding will take up to 10-15 days from completion.
There are 2 ways to apply based on your organization’s circumstances:
- Simplified payroll-based
- Businesses with annual payroll between $20,000 and $1.5 million based on the sum of all employment income reported on all employee T4s for 2019.
- Non-deferrable expense-based
- Businesses with annual payroll less than $20,000 during 2019 and eligible non-deferrable expenses for 2020 projected to be between $40,000 and $1.5 million.
- Click here for a list of eligible non-deferrable expenses.
The CEBA $20,000 expansion loan is only available to businesses that:
- previously received CEBA funding. You must apply through the financial institution who provided your previous CEBA loan;
- are in good standing/not in loan or account arrears; and
- can certify to meeting the following financial needs criteria:
- that its business is facing ongoing financial hardship (including, for example, a continued decline in revenue or cash reserves, or an increase in operating costs) as a result of the COVID-19 pandemic;
- that it intends to continue to operate its business or to resume operations;
- that in response to the COVID-19 pandemic it has made all reasonable efforts to reduce its costs and to otherwise adapt its business to improve its viability; and
- that it has not used any loan received under the Program to make any payment or pay any expense other than Eligible Non-Deferrable Expenses. Specifically, the Borrower has not used any loan received under the Program to make any prepayment/refinancing of existing indebtedness, any payment of dividends, distributions or increases in management compensation or to increase the compensation of related parties.
- An operating company registered in Canada on or before March 1, 2020.
- Conexus is your primary financial services provider. This means that your organization uses a Conexus Business Operating Account opened prior to CEBA application for day-to-day payments and cash management activities. Otherwise, apply through the financial institution that holds your primary Business Operating Account.
- Conexus is your primary financial institution - meaning your everyday business banking account and cash management activities are held with Conexus, and opened before your CEBA application.
- Up-to-date business contact information, including phone number and email address.
- If your business has received other federal government relief, depending on the amount received, you may not be eligible for CEBA
- Eligibility and loan details are subject to change, based on CEBA program requirements
- The terms and conditions of any agreement you enter into with Conexus will govern the loan, as well as your and Conexus’ obligations under the program.
The contact centre can be reached by calling 1-888-324-4201, Monday to Friday from 8 a.m. to 9 p.m. EST.
For further details, please visit the Government of Canada Website.
Please review the below information:
If you have further questions about the program, please visit the Government of Canada Website or reach out to our Member Contact Centre 1-800-667-7477, option 2 Business Banking. Continue to check back at Conexus.ca/CEBA for more information as it comes available.With Online Banking

Members who have access to Business Online Banking can apply here using their desktop. Please have your employer account number and Conexus Credit Union membership number ready.
Without Online Banking

Members who do not have access to Business Online Banking can apply here using Chrome, Firefox or Safari. Please have your employer account number and Conexus Credit Union bank card (PAN) number ready.
IMPORTANT:
Due to an application error, if you are applying for the Non-Deferrable Expense stream and have reported a loss on your most recent tax return, please use the without online banking option to apply for the CEBA program. CEBA applications with payroll greater than $20,000 can still be submitted using our online banking option.Frequently Asked Questions
CEWS
Canada Emergency Wage Subsidy
What is the Canada Emergency Wage Subsidy?
Canadian businesses, including non-profit organizations and charities, whose March revenue has decreased by at least 15% due to COVID-19 and facing employee layoffs can access a temporary wage subsidy for 3 months. Business owners can receive 75% of wages per employee to a maximum of $58,700 during the 3-month period, to a maximum of $847/week per employee. These payments will be back dated to March 15, 2020 and run to June 6, 2020.How to apply for CEWS:
Eligible businesses can apply for the program through the My Business Account portal on the Canada Revenue Agency’s website or through your financial institution, Conexus Credit Union.
Sign up now:
Direct Deposit allows you to access your money faster. It's reliable and your payment will always be deposited on time in the account that you select when you sign up. Sign up here!
CRA Direct Deposit for CEWS form
Types of eligible employers:- Individuals
- Taxable corporations
- Persons who are exempt from corporate tax such as non-profit organizations
- Registered charities
- Partnerships consisting of eligible employers
Frequently Asked Questions
- a business account that was opened before March 1, 2020
- A valid 15 digit business number
- Payroll account (RP)
You must be a signor to access the forms, they are not available for non-signors (delegates).
Registration is only required once – if you have already registered with the CRA, there is no need to do so again.- Social insurance number
- Date of birth
- Current postal code or zip code
- Tax returns from the current and previous year
- Business number

It can take between 24-48 hours for the changes to be reflected in CRA My Business Account, but processing times may vary. CRA will also notify you when you important changes are made to your account, such as Direct Deposit. If you don’t see the updated bank account information after 48 hours you can contact the CRA at 1-800-959-5525.
For more information, please visit the CRA website: Email notifications from the CRA – Businesses.
You can receive business payments such as your corporation income tax refund, goods and services tax/harmonized sales tax refund and refund of payroll deductions.
If you are eligible to receive it, you will also receive your Canada Emergency Wage Subsidy (CEWS) through the Government of Canada as a Direct Deposit payment to your payroll account (RP).
For a complete list, please visit CRA Direct Deposit Enrolment.
You will need to enter your 15-digit Business Number and identify the payroll account for the funds to be deposited into.
- Log into online banking conexus.ca*
- In the left hand menu, select Account Services
- In the submenu, select CRA Direct Deposit for businesses (CEWS)
- Read the Payment Information and click Next
- Verify Company Name
- Insert the CRA Business Number and Payroll Account Number and Select the account you would like the funds to be deposited into
- Complete the Corporate Officer Information and click Next
- Enter Your Information.
- Check off your authorization to let Conexus to share your banking information with the CRA for the purpose of establishing or changing direct deposit
- Read Privacy statement (optional)
- Click Next
- Review the information
- Click Submit
*The CRA Direct Deposit Form is only available through our Full Website to our Business Online members. This form is not available through Mobile Web or the Mobile app.
If you are expecting to receive your CEWS payment through Direct Deposit and have not received a payment within 10 days of submitting your application, you can contact the CRA at 1-800-959-5525.
Please note that if you have CRA My Business Account, you can monitor your account to check for your CEWS payment.
In addition, with account alerts the CRA will also notify you when important changes are made to your account, such as Direct Deposit. For more information please visit the CRA website: Email Notifications from the CRA – Businesses.
For questions and information on how to apply for the CEWS, please visit the Government of Canada’s website.
At the end of the enrolment process, you’ll be given a reference number to confirm that your information has been shared with the Canada Revenue Agency.
You can also verify that your profile was updated by visiting the CRA My Business Account two business days after enrolling.
If you are calling for Canada Emergency Wage Subsidy (CEWS) information or to speak with an agent about CEWS eligibility requirements, calculating the CEWS, or how to apply, call the dedicated CEWS number: 1-833-966-2099.
If you are calling for account-specific information such as My Business Account access, payment requirements, or GST and corporate income tax filing information, call the CRA’s Business Enquiries line: 1-800-959-5525.
BDC Co-Loan Program
Business Development Bank of Canada Co-Lending Program
The BDC Co-Loan program provides eligible applicants access to up to $6.25 million CAD (max loans amount dependent on business size) in loans to cover operating expenses such as rent and payroll and working capital needs such as inventory. The loan will be jointly funded by Conexus and BDC.Business with less than $1 million in Annual Revenue | Businesses with $1-50 million in Annual Revenue | Businesses with over $50 million in Annual Revenue |
Up to $312,500 | Up to $3.125 million | Up to $6.25 million |
What is the BDC Co-Lending Program?
- Eligible Conexus business members can apply for financing to support their operational and liquidity needs
- Term Loan
- First 12 months to be interest only
- Amortization and terms based on your business needs
What’s the eligibility criteria?
- Been a member with Conexus as of March 1, 2020
- Been a viable business as of March 1, 2020 prior to COVID-19 impact
- Meet the necessary requirements that will form part of the application process
- Please contact your Business Advisor for further details on the eligibility criteria
When can I apply?
Conexus members should speak to the Business Advisor to learn more about the application process and eligibility criteria.Frequently Asked Questions
Business with less than $1 million in Annual Revenue | Businesses with $1-50 million in Annual Revenue | Businesses with over $50 million in Annual Revenue |
Up to $312,500 | Up to $3.125 million | Up to $6.25 million |
CECRA
Canada Emergency Commercial Rent Assistance
The Government of Canada has announced the CECRA program, in co-operation with Canada’s Provinces to provide much needed commercial rent relief to small businesses during this unprecedented time. This program will lower rent by 75% for small businesses that have been affected by COVID-19, in co-operation with the property owner. The program provides commercial property owners access to forgivable loans if they cover 50% of the rent payments for eligible small business tenants.The commercial property owner must agree to reduce the tenants rent by 75% for the months of April, May and June under a Rent Forgiveness Agreement. The property owner would not be able to evict the tenant under the agreement, and the tenant would cover the remaining 25% of rent owed. Tenants must be paying less than $50,000 a month in rent, have ceased operations or experienced a 70% decline in revenues due to COVID-19. Non-profit and charitable organizations also qualify for the program.
More information is available on the CMHC website.
SSBEP
Saskatchewan Small Business Emergency Payment
The Saskatchewan Small Business Emergency Payment program provides much needed financial assistance to Saskatchewan’s small businesses that had to close or reduce operations due to the public health order during COVID-19.The payment can be used for any purpose, including covering fixed costs or the costs associating with re-opening after the public health order has lifted restrictions. Payments are based of 15% of the businesses’ monthly revenue in April 2019 or February 2020 to a maximum of $5,000. Seasonal businesses 15% payments are based off the average monthly sales revenue for their 2019 operational months.
To be eligible, a Saskatchewan business or not-for-profit must:
- Have been carrying on business in Saskatchewan on February 29, 2020;
- Have been ordered to temporarily close or curtail operations through a COVID-19 public health order;
- Have less than 500 employees:
- Seasonal businesses:
- In the year before the COVID-19 public health order; or
- When averaged for the 3 years before the year in which the COVID-19 public health order;
- Seasonal businesses:
- Attest that they:
- have experienced a loss in sales revenue from business activities due to a COVID-19 public health order;
- plan to reopen operations following the cancellation of the COVID-19 public health order; and
- have not received any payments or amounts from any other sources, including insurance, to replace or compensate for the loss of sales revenue other than amounts from other government assistance programs; and
- Apply on or before July 31, 2020.
BCAP
Export Development Canada Business Credit Availability Program Guarantee
As part of the federal government’s new $65 billion Business Credit Availability Program (BCAP), Conexus Credit Union and Export Development Canada (EDC) are partnering to provide small-and medium-sized Canadian businesses with financing during the COVID-19 pandemic. Access the credit you need to cover payroll and other operating costs during this global health crisis. The EDC BCAP Guarantee provides businesses with up to $6.25 million in credit to cover operational costs like payroll and rent. Proceeds from the BCAP-supported loan cannot be used to repay or refinance existing debt (further restrictions apply to other non-operational costs). Export sales are not required to qualify for the program.EDC fees related to this guarantee will be deferred for the first six months, giving some short-term relief to your business. EDC will provide a guarantee to Conexus Credit Union on 80% of the value of your loan. By sharing risk with EDC, we can help your company access the financing it needs. Note that the guarantee is to our institution, not your business, so you remain responsible for the full value of the loan.
For more information on the loan and the eligibility criteria, contact your business advisor. Information can also be found on the EDC website.
Conexus
Conexus Credit Union Supports
Your businesses are unique, and your challenges may be complex. We can help assess your situation and determine the best options to provide some relief including working with you activate a skip-payment plan, to defer monthly payments, or to create an interest only payment plan to help your business navigate the economic downturn.This relief extends to members, small business members, commercial members, and agricultural members in good standing who are feeling a financial impact and are looking for a temporary relief from mortgage, line of credit, and loan payments. There are many other options that can be explored. Please reach out to us directly to talk about financial solutions for your individual situation.
To participate in these supports and programs
Contact your advisor, call your branch, or call the Member Contact Centre 1-800-667-7477 . We ask for your patience as we work through high-call volumes, but rest assured we will get to you and help you through this uncertain time.
Alongside financial well-being, we want to recognize the importance of taking care of your overall well-being. There are many free and confidential supports available 24/7 throughout the province to help your mental and physical well-being. Learn more.
Most importantly, in times like these, we need to look out for each other and our neighbours. We are in this together and will continue to work through these challenges together, truly defining what being a community is all about. If you have any questions, or concerns, do not hesitate to reach out.
RRRF
Regional Relief and Recovery Fund
The Government of Canada has announced additional funding for small and medium businesses who need additional relief due to the COVID-19 pandemic. The Regional Relief and Recovery Fund (RRRF) provides $962 million in relief funding delivered through regional development agencies. Specifically, $304 million is allocated to Western Economic Diversification Canada to assist Western Canadian businesses specifically in the tourism sector.
The objective of the RRRF is to assist Western Canadian businesses that do not qualify for other programs such as the Canadian Emergency Business Account (CEBA) or the Community Futures Emergency Loan Program. The RRRF will support businesses in two ways:
- Provides up to $40,000 in repayable contributions to businesses that are not eligible to access other federal support programs. Businesses that receive funds from the RRRF and repay 75 percent of the contribution (up to $30,000) on or before December 31, 2022 will result in forgiveness of 25 percent of the contribution (up to $10,000).
- Provide up to $1,000,000 in repayable contributions to businesses that can demonstrate a meaningful contribution to the Western Canadian economy and are experiencing liquidity issues. These companies may not have accessed other Government of Canada relief programs, or may have accessed them, but require additional funding to mitigate cash flow pressures. This contribution is fully repayable.
Further details, including eligibility criteria for each stream, and how to apply, can be found here.
Examples of business that are eligible to apply to the RRRF:
- Pre-revenue firms (e.g. a company that has not had any sales to date)
- Businesses that do not have salaried employees (e.g. a company with a workforce of contract employees)
- Businesses with no payroll that do pay their owners a salary (e.g. a company that pays its owners through dividends)
Examples of businesses that are not eligible to apply to the RRRF:
- Sole proprietorships
- Not-for-profit organizations – Funding is available to charitable organizations through Community Futures Saskatchewan.
Applications are being accepted through Western Economic Development Canada and can be found here.
LEEFF
Large Enterprise Emergency Fund Facility
The Large Employer Emergency Financing Facility (LEEFF) is a program to support large employers through COVID-19. The program provides short-term liquidity assistance in the form of interest-bearing term loans through the Canada Enterprise Emergency Funding Corporation, a subsidiary of the Canada Development Investment Corporation. The assistance is available to large Canadian employers who meet the following criteria:- Make a significant impact on Canada’s economy by:
- Having significant operations in Canada
- Supporting a significant workforce in Canada
- Have annual revenues of $300 million or more
- Require a minimum loan of $60 million
- Have never been found guilty of tax evasion
For full information on LEEFF, visit the Canada Development Investment Corporation fact sheet here.