TORONTO, Oct. 26, 2020 /CNW/ - Scotiabank announces that it is ready to accept applications for the next phase of the Canada Emergency Business Account (CEBA), with expanded criteria that enables eligible businesses who did not previously have a business banking account to now apply for the program.

"Scotiabank applauds the federal government for extending a hand up to more small businesses across Canada with the expanded eligibility of the Canada Emergency Business Account (CEBA)," said Dan Rees, Group Head, Canadian Banking, Scotiabank. "As the largest sector for employment in the country, it is critically important to Canadians and to our economy that small businesses continue to be supported. CEBA has given many business owners that peace of mind, providing them with liquidity and optionality as they navigate the unprecedented challenges presented by COVID-19."

As part of this fourth phase of CEBA, the federal government has expanded the criteria to allow eligible businesses who did not previously have a business account to now apply. The previous March 1, 2020 condition for having an active business chequing or operating account has been removed and businesses can now apply for CEBA after opening a business chequing or operating account with their primary financial institution. To further assist business owners in their application, the government has also introduced a pre-screen tool to provide businesses information on their potential eligibility for CEBA before applying.  

For customers interested in applying for the CEBA program or for information on Scotiabank's support for small businesses, please visit: https://www.scotiabank.com/ca/en/personal/scotia-support/business-banking.html 

Scotiabank stands behind Canadian businesses
Scotiabank was recently rated the leading bank in client satisfaction according to the Bond COVID-19 Canadian Client Impact Study.

Scotiabank's support for eligible Canadian Business Banking and Small Business clients affected by COVID-19 include:

• Online application for the Canada Emergency Business Account (CEBA);
• Online application for the Canada Emergency Wage Subsidy (CEWS);
• Support through the Business Development Bank of Canada (BDC) financial relief program;
• Support through the Export Development Canada (EDC) financial relief program;
• Continued access to Small Business Advisors and Business Banking Relationship Managers for customized advice.

For more information on our customer assistance programs for individuals and businesses, please visit Scotiabank.com.

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.2 trillion (as at July 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit our website and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2020/26/c7129.html