The federal government is expanding eligibility for small businesses to apply for the Canada Emergency Business Account.
Prime Minister Justin Trudeau said people who are the sole owner of a business, depend on contracted employees, or have a family-run enterprise and pay dividends to staff are now able to access the $40,000 loans. If a business can re-pay the loan by the end of 2022, then $10,000 of the money will be forgiven. Trudeau said over 600,000 businesses have already applied.
Trudeau also said the country has added hundreds of thousands of masks, visors, and other personal protective equipment. He said they are also expecting respirators from the United States that will be distributed to provinces and territories. Trudeau pointed out there are now 15 contracts with businesses in Canada to produce equipment, including gowns.
