CFIB successfully wins support for small business owners- increasing wage subsidy

  • 3 Apr 2020 2:35 PM
    Message # 8877694
    CCA National Office (Administrator)

    A statement directly from the CFIB newsletter:

    75% temporary wage subsidy & $40,000 loans: We fought for them and won, but we’re not done.

    After weeks of pressure from CFIB, the federal government announced two new programs to support your business during this crisis.

    The wage subsidy will increase from 10% to 75%. We asked for this from the beginning—and won the battle thanks to your support. The program will run for 12 weeks, from March 15 to June 6 and apply to the first $58,700 earned by an employee.

    Also, the Canadian Emergency Business Account will offer you interest-free loans of up to $40,000 with up to 25% in forgivable loan if it’s repaid by the end of 2022. You have to contact your bank to apply.

    Find out more here


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