
HASCAP
The Highly Affected Sectors Credit Availability Program
What is HASCAP?
The Highly Affected Sectors Credit Availability Program (HASCAP) Guarantee helps Canadian companies that have been most impacted by the pandemic with access to new 100%-guaranteed term loans between $25,000 to $1 million. Proceeds from the loan must be used to finance operations and cannot be used to repay or refinance existing debt.
Benefits of the loan:
- Low interest rate of 4%
- Repayment term of up to 10 years
- Up to 12-month postponement of principal payments
How to apply:
- Business owners must talk to their Conexus Business Advisor to assess if the program is appropriate for them.
- Business owners can apply to only ONE financial institution, their primary lender
- If their primary lender is not participating in the program, only then may they apply through another financial institution
- If the business is eligible for the program, the Conexus Business Advisor will provide a URL to complete the HASCAP Online ID Form.
- Once the form is submitted, you will receive a unique ID code by email which you will share with your Conexus Business Advisor to continue processing the loan.
The program will be available until June 30, 2021.
Frequently Asked Questions
Eligible Canadian businesses can start applying for a HASCAP Loan on February 1, 2021 until June 30, 2021.
This program is available to Canadian businesses from all sectors that meet the HASCAP Guarantee eligibility criteria.
No, you cannot use your HASCAP loan to pay off existing debt or refinance existing obligations. HASCAP Loans should be used to continue or resume operations.
Yes, you may. Contact your Conexus Business Advisor to confirm that you are eligible and to start the loan request process.
If you have questions about your application, please contact your Conexus Business Advisor or call us at 1-800-667-7477 (Select '2' for Business Banking). Your only contact should be with your primary financial institution as it is responsible for managing this program, only it can provide a status on your application.
All declined applicants will be notified directly by Conexus Credit Union. You may re-apply only if you need to provide additional information or make a correction. The eligibility validation is based on the criteria established by the Government of Canada. Conexus does not have the authority to grant exceptions to eligibility criteria.
BDC is Canada’s bank for entrepreneurs. Given this unique purpose, the Government of Canada has mandated BDC to offer the HASCAP Guarantee to qualifying businesses impacted by the current pandemic through financial institutions.
If you have questions about the program or your application, please contact your Conexus Business Advisor or call us at 1-800-667-7477 (Select '2' for Business Banking).
CEBA
Canadian Emergency Business Account
CEBA Program Repayment Deadlines Have Changed:
- The Government of Canada announced the December 31, 2022 forgiveness repayment date is extended to December 31, 2023 for eligible CEBA loan holders in good standing. If you qualify for the new extended term, you will be contacted with details regarding the new repayment date.
- You can make a repayment using Conexus Online Banking, by speaking with your Business Advisor or calling the Business Contact Centre at 1-800-667-7477 (option 2).
- 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, 2023, the Canada Emergency Business Account will be funded as a term loan with no interest and no payments.
- Beginning January 1, 2024, 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, 2023, 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, 2023, 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, 2023, the full loan balance and all accrued and unpaid interest will be due and payable on December 31, 2025.
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.
All applicants that meet CEBA eligibility criteria will have the following repayment terms:
Interest:
- 0% per annum interest until December 31, 2023
- 5% per annum interest starting on January 1, 2024; interest payment frequency to be determined by your financial institution
- No principal repayment required before December 31, 2023
- If loan remains outstanding after December 31, 2023, only interest payments required until full principal is due on December 31, 2025
- If the outstanding principal, other than the amount of potential debt forgiveness, is repaid by December 31, 2023, the remaining principal amount will be forgiven, provided that no default under the Loan has occurred
- All applicants that meet CEBA eligibility criteria will have the following terms of forgiveness:
- If you borrowed $40,000 or less:
Repaying the outstanding balance of the loan (other than the amount available to be forgiven) on or before December 31, 2023 will result in loan forgiveness of 25 percent (up to $10,000). - If you borrowed more than $40,000 and up to $60,000:
If you received a $40,000 loan and subsequently received the $20,000 expansion, the terms of your forgiveness have changed to:- Repaying the outstanding balance of the loan (other than the amount available to be forgiven) on or before December 31, 2023 will result in a single tranche of loan forgiveness up to $20,000 based on a blended rate:
- 25 percent on the first $40,000; plus
- 50 percent on amounts above $40,000 and up to $60,000.
- Repaying the outstanding balance of the loan (other than the amount available to be forgiven) on or before December 31, 2023 will result in a single tranche of loan forgiveness up to $20,000 based on a blended rate:
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.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.
CERS
Canadian Emergency Rent Subsidy
What is the Canada Emergency Rent Subsidy?
Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue during the COVID-19 pandemic may be eligible for a subsidy to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021.This subsidy, split into claim periods, will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords. Each CERS period is a specific period of 4 weeks, beginning on a Sunday. The rent subsidy does not renew automatically, so each period you must confirm that you're eligible according to that period's rules before you apply.
If you are eligible for the base subsidy, you may also be eligible for lockdown support if your business location is significantly affected by a public health order for a week or more.
How to apply for CERS
Eligible businesses must apply for the program through the My Business Account portal on the Canada Revenue Agency’s website.More information on eligibility and how to apply can be found on the Government of Canada website and in the frequently asked questions below.
Frequently Asked Questions
- Social insurance number
- Date of birth
- Current postal code or zip code
- Tax returns from the current and previous year
- Business number
- Meet at least one of these conditions:
- You had a CRA business number on September 27, 2020
- You had a payroll account on March 15, 2020 or another person or partnership made payroll remittances on your behalf
- You purchased business assets of another person or partnership who meets the above condition, and have made an election under the special asset acquisition rules (which are the same as for the Canada Emergency Wage Subsidy).
- Are an eligible business, charity or non-profit.
- Experienced a drop in revenue. There is no minimum drop required to qualify.
- Have eligible expenses - you must have a qualifying property.
- $75,000 per business location (base and top-up)
- $300,000 in total for all locations (including any amounts claimed by affiliated entities)
- Applies to the base subsidy only
- There is no maximum for the top-up subsidy
- Only amounts paid or payable to an arm's-length party can be included
- The expense must be in respect of the claim period
- The expense must be paid or payable under a written agreement in place before October 9, 2020 (or a renewal on substantially similar terms or assignment of such an agreement).
- To non-arm's-length entities
- For a timeframe that falls outside of the claim period you are applying for
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 |
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 March 2, 2021.
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.