Canada, U.S. Extend Closure of Border, Expanding Eligibility For Canada Emergency Business Account Program

Canada and the United States have agreed to extend the temporary closure of the border.

Prime Minister Justin Trudeau announced on Tuesday the measures will be in place for at least another 30 days.

“This is an important decision that will keep people, in both of our countries, safe.”

Supply chains that deliver food, fuel, and medicine are the only ones allowed to cross the border.

According to Statistics Canada, nearly 44 million trips were taken by Canadians to the United States in 2019.

Meanwhile, the federal government is expanding eligibility for their Canada Emergency Business Account program.

CEBA was introduced in April and provides businesses interest free loans of up to $40,000.

Those whose payroll was under $20,000 in 2019 can now qualify if they have a Canada Revenue Agency business number, filed a tax return over the past two years, have eligible non-deferrable expenses between $40,000 and $1.5 million, and have a business operating account at a participating financial institution.

“By expanding the CEBA, we will be giving more businesses access to the support they need, so they can help protect workers and the jobs they rely on,” added Trudeau.

So far, the federal government has approved over 600,000 loans through the program – representing over $24 billion in credit.

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