Relief measures for businesses

COVID-19

Relief measures for businesses

We know what a huge impact COVID-19 is having on businesses. It's making it tough to stay open, make payroll and keep cash on hand.

During these uncertain times, Desjardins Business and Desjardins Capital are here for you.

Our support includes the following products and services:

  • Financing
  • Group insurance
  • Property and casualty insurance for businesses

The federal government is also offering interest-free loans of up to $60,000 to small businesses and not-for-profits.

Products the relief measures apply to

Because no 2 businesses are alike, we'll work to find solutions tailored to your situation. Additional measures may be announced as the situation develops.

Financing

  • Temporary changes to line of credit terms
  • Tips for finding the best government support program for you
  • Fast-tracked approval
  • Refinancing for certain loans

Group insurance

  • Support measures for plan members, including 4 hours of free psychological counselling

See all relief measures - External link. This link will open in a new window.

Property and casualty insurance for businesses

  • Property insurance – Broad form for teleworkers
  • Temporary commercial vehicle insurance for deliveries

See all insurance] relief measures - External link. This link will open in a new window.

Coordination with government programs

We're working closely with the federal and provincial governments to provide additional solutions and support during this challenging time. If you need more information, reach out to your account manager. They can work with you to find the right solution for your needs.

See all business support programs offered by the Government of Canada

See all support programs offered by the Government of Quebec

Canada Emergency Business Account (CEBA)

This federal program provides interest-free loans of up to $60,000 to small businesses and not-for-profits experiencing temporary financial hardship to help cover their operating costs. Businesses that received the initial loan of $40,000 as part of this program can apply for an additional $20,000.

Learn more about the program on the Canada Emergency Business Account site - External link. This link will open in a new window..

Track the status of your application

You can view the status of your application on the Government of Canada's website - External link. This link will open in a new window. or contact the CEBA Call Centre at 1-888-324-4201. The CEBA Call Centre is open Monday to Friday from 8 AM to 9 PM ET.

Terms of the loan

  • Interest-free until December 31, 2022 with no principal payments required
  • The loan application must be submitted by March 31, 2021
  • If the loan is reimbursed no later than December 31, 2022, you can benefit from the following terms and conditions:
    • Total loan of $60,000
      • No interest to pay
      • Amount to repay: $40,000
      • Amount written off: $20,000
    • Loan of $40,000
      • No interest to pay
      • Amount to repay: $30,000
      • Amount written off: $10,000
  • If there's still a balance to pay on January 1, 2023:
    • You can set up a 3-year repayment term (principal + interest) or keep the loan with a 5% interest rate.
  • The loan must be repaid by December 31, 2025.

Eligibility

To quickly determine if your business is eligible use the CEBA Pre-Screen Tool - External link. This link will open in a new window..

To qualify, your business must (among other requirements):

  • have an active business chequing account at the time of application
  • have federal tax registration
  • have paid up to $1.5 million in total payroll in 2019

If your business has a 2019 payroll of $20,000 or less, you must have:

  • a Canada Revenue Agency business number
  • a 2018 or 2019 tax return
  • eligible non-deferrable expenses of between $40,000 and $1.5 million. These expenses can include debt, rent, property taxes, utilities, communications invoices, permits, insurance, etc.

Apply for a loan

You'll need:

  • your AccèsD Affaires login information (Note: Only primary administrators will be able to access and fill out the application.)

    Register for AccèsD Affaires

  • a phone number and email address where we can reach you

If your business payroll is between $20,000 and $1.5 million, you'll need your 2019 T4 Summary with your employer number to answer some questions from the government.

If your business payroll is $20,000 or less, you'll need your Income Tax and Benefit Return (T1) and proof of non-deferrable expenses. Corporations must use the Corporation Income Tax Return form (T2).

If your business operates through a personal chequing account, you’ll need:

Please note that the information declared in your application will be subject to verification and audit by the Government of Canada. Please read the certification carefully before submitting your application.

Apply for the Canada Emergency Business Account - External link. This link will open in a new window.

Loan guarantees and co-lending programs for SMEs

The following support programs are for businesses experiencing temporary financial difficulty due to COVID-19. If you need access to cash to fund your operations or increase your working capital, we can help you figure out which program is best for you.

Business Credit Availability Program (BCAP) with Export Development Canada – Guarantee

  • Flexible financing amount
  • Simplified application process

To apply, contact your account manager.

Learn more - about the Business Credit Availability Program - External link. This link will open in a new window.

Concerted Temporary Action Program for Businesses with Investissement Québec – Guarantee

To apply, contact your account manager.

BDC Co-Lending Program

  • Maximum financing amount based on your business revenues
  • Loan conditions tailored to your needs

To apply, contact your account manager.

Learn more - about the BDC Co-Lending Program - External link. This link will open in a new window.

Exclusive partnerships

We know that the current situation and the return to work of your employees raises concerns regarding your business. That's why we called upon partners to give you exclusive offers and preferred rates.

Contact us

Contact your account manager or call us toll-free at from anywhere in Canada or the US.

Or have us call you at the time of your choice.

Our teams are experiencing a high volume of calls. We'll do our best to answer you as soon as possible.