Canada Emergency Business Account (CEBA) Update

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Dear Commercial Members,

The VantageOne Credit Union Commercial Services Team wants to assure you that we will continue to support our member businesses and organizations during these financially uncertain times. If you’re facing financial challenges as a result of COVID-19 or the economic downturn, we’re here to help. Below is some further information about the Canada Emergency Business Account (CEBA).

What is the current status of this program at VantageOne?
VantageOne will be able to offer this program and we are actively working with our partners and the federal government to launch the CEBA program to our members as soon as possible.

Why has it taken this long?
The government is working through a process to get hundreds of financial institutions set up across Canada. We assure you that this is a top priority for our team and we have all available resources focused and working to get ready to launch this program as soon as it is made available to us. We are on the official list, in the queue and hopeful our turn will be within the next week.

How will I know the program has launched?
You will receive an email from us once the application goes live. Updates will also be posted on our website homepage, in our online COVID-19 Resource Centre and social media (Facebook, Twitter, Instagram and LinkedIn) when it is available and will include more information on how to apply.

Preparing to apply
We will be ready to accept applications soon. You can get ready by:

1.) Review the criteria to determine if your business is eligible. Click Here

  • You can also review the Government of Canada’s CEBA site at https://ceba-cuec.ca/ for more details.

2.) Locate the documents you will require to apply:

  • Your Canada Revenue Agency Business Number (BN) (15 digits) as reported at the top of your 2019 T4 Summary of Remuneration Paid (T4SUM)
  • The employment income reported in Box 14 of your 2019 T4SUM
  • A copy of your 2019 T4 Summary of Remuneration Paid may be requested. You can contact the Canada Revenue Agency to have them re-issue your 2019 statement if needed.

Please do not hesitate to reach out to the Commercial Services Team with any questions or concerns you may have. We appreciate your business and hope that we can work to address issues so you can focus on the well-being of yourself, your family, staff and company.

Sincerely,

The Commercial Services Team
1.250.545.9251 or 1.877.545.1957
info@vantageone.net

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