Canada NewsWire
MONTREAL, April 8, 2020
MONTREAL, April 8, 2020 /CNW Telbec/ - Starting tomorrow, owners of small and medium-sized enterprises (SMEs) and managers of non-profit organizations (NPOs) who are National Bank clients will be able to submit their applications online for the Canada Emergency Business Account. This program is guaranteed by the Government of Canada and aims at helping businesses cope with the economic challenges resulting from the COVID-19 crisis. It will be used to grant $40,000 loans that are interest-free until December 31, 2022 to SMEs and NPOs.
"Being the Bank of entrepreneurs means prioritizing advice based on needs, be it day-to-day or in exceptional situations, such as what we're currently experiencing. Our employees are working tirelessly to assist our clients during the COVID-19 pandemic, and to help them obtain support measures to deal with the crisis," stated Stéphane Achard, Executive Vice-President – Commercial Banking and Insurance at National Bank.
To apply for an emergency loan, you must complete the online form, which will be available tomorrow. Here are a few steps to follow before you apply.
1. Check if you are eligible
The Canada Emergency Business Account is for SMEs and NPOs. The conditions of the federal program require that:
Moreover, to submit your emergency loan application to National Bank, please make sure that:
2. Have the right information on hand
You will need the following information for your application:
3. Consult our FAQ
To learn more about how the emergency business loan works, consult our FAQ.
Additional support measures
Some businesses could also already be eligible for the following support measures. We ask that they contact their Account Manager and consult nbc.ca/business where we regularly update information on relief measures and available government programs.
National Bank Insurance Auto | Home: Support measures for retail clients
National Bank Insurance Auto | Home would also like to remind clients who are experiencing financial difficulties that they could be eligible for various relief measures, including:
Clients must call 1-877-871-7500 to find out if they are eligible for relief measures. Further details are available on National Bank Insurance's website. Using the Client Centre or app, policyholders can access documentation, start a claim or obtain proof of insurance.
Related links
About National Bank of Canada
With $289 billion in assets as at January 31, 2020, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.
SOURCE National Bank of Canada
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