PR Newswire | Mar 22, 2021 04:33PM EDT

deadline

03/22 15:32 CDT

CIBC ready to assist business clients with CEBA applications on extended deadline TORONTO, March 22, 2021

Canada Emergency Business Account deadline moved to June 30, 2021

TORONTO, March 22, 2021 /CNW/ - CIBC today announced it is available to provide business owners with immediate help in submitting new applications under the expanded Canada Emergency Business Account (CEBA) program. The deadline for applications has been extended by the Federal government from March 31 to June 30, 2021.

The deadline extension applies to any new applications for CEBA loans of $60,000 or to new applications from businesses that have already received a $40,000 loan and intend to apply for the additional $20,000.

"We're here to support our Canadian entrepreneurs who continue to face financial hardship as a result of the pandemic with the right advice to help them through a challenging period and access to government programs like CEBA to provide much needed liquidity," said Laura Dottori-Attanasio, Group Head, Personal and Business Banking. "The application deadline extension and other adjustments to the CEBA program will allow more businesses to access the support they need. We're committed to continuing to assist our clients, including accessing these crucial funds."

Business owners whose primary bank is CIBC can simply initiate an application through CIBC Online Banking for Business. Upon approval by the Government of Canada, clients will receive a confirmation email from CIBC, and the loan will be deposited into their existing CIBC Business Operating Account.

Businesses with a CEBA loan application already in progress are eligible to apply for an additional $20,000 loan under the expanded program once their application is approved.

For questions about a pending CEBA application, please visit the Government of Canada'sCEBA Application Status website.

More information can be found at the CIBC Canada Emergency Business Account FAQs page.

About CIBC

CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.

SOURCE CIBC