MONTREAL, April 8, 2020 / CNW Telbec / – Starting tomorrow, owners of small and medium-sized enterprises (SMEs) and directors of non-profit organizations (NPOs) clients of National Bank will be able to submit their applications online at Canada Emergency business account. This program is guaranteed by the government of Canada and aims to help businesses cope with the economic challenges resulting from the COVID-19 crisis. It will be used to grant $ 40,000 interest-free loans until December 31, 2022 to SMEs and NPOs.
âBeing the Bank of Entrepreneurs means giving priority to advice based on needs, whether on a daily basis or in exceptional situations, such as what we are currently experiencing. Our employees work tirelessly to support our clients during the COVID-19 pandemic, and to help them obtain support measures to face the crisis â, declared StÃ©phane Achard, Senior Vice-President – Commercial Banking and National Bank insurance.
To apply for an emergency loan, you must complete the online form, which will be available from tomorrow. Here are some steps to follow before applying.
1. Check if you are eligible
- Organizations paid $ 50,000 To $ 1 million in salaries in 2019, as declared on their T4 summary
- NPOs have submitted a T2 corporate income tax return for the 2019 tax year
- Registered charities have submitted a T3010 registered charity information return for the 2019 tax year
In addition, to submit your emergency loan application to National Bank, please make sure that:
- You have an active business account (business current account) at National Bank, in Canadian dollars, opened no later than March 1, 2020
- The business was not 90 days or more behind on existing borrowing facilities, if any, with the National Bank at March 1, 2020
- National Bank is your main financial institution
2. Have the right information at your fingertips
You will need the following information for your application:
- Your National Bank business account number (indicated at the bottom of your checks)
- The transit number of your agency (5 digits, indicated at the bottom of your checks)
- The sum of salaries paid in 2019 (see box 14 of your company’s 2019 T4 Summary)
- Your business number or employer account number (15 characters, see your company’s 2019 T4 Summary)
3. Check out our faq
To learn more about how emergency business loans work, see our FAQs.
Additional support measures
Some companies may also already be eligible for the following support measures. We ask them to contact their account manager and consult nbc.ca/business where we regularly update information on relief measures and available government programs.
- Temporary concerted action program for Investissement QuÃ©bec companies: This program is intended only for companies operating in Quebec and provides access to a working capital loan of a minimum of $ 71,500. For more information, visit the Investment Quebec website.
- Export Development Canada Business Credit Access Program (BCP): This measure is intended for direct exporters, indirect exporters and future direct exporters. It allows them to obtain an operating line of credit or a cash loan of up to $ 6.25 million in CAD, USD or another currency. For more information, visit the Export Development Canada website.
National Bank Insurance Auto | Home: Support measures for individual customers
National Bank Insurance Auto | Home also reminds customers who are experiencing financial difficulties that they may be eligible for various relief measures, including:
- Payment deferrals
- Premium adjustments to reflect reduced vehicle use
- Flexibility offered to customers who use their vehicle for certain types of deliveries
- Complaints can be submitted online or by phone
Customers should call 1-877-871-7500 to find out if they are eligible for relief. Further details are available on the National Bank Insurance website. Using the Customer Center or the app, policyholders can access documentation, initiate a claim or obtain proof of insurance.
About the National Bank of Canada
With $ 289 billion in assets in January 31, 2020, National Bank of Canada, together with its subsidiaries, forms one of the from Canada large integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized on several occasions as a leading employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities on bnc.ca or via social networks such as Facebook, LinkedIn and Twitter.
SOURCE National Bank of Canada
For further information: Claude Breton, Vice-President – Communications and Corporate Social Responsibility, National Bank of Canada, [emailÂ protected], Phone. : 514-394-8644