COVID-19 (Coronavirus) Frequently Asked Questions

The Government of Canada has announced that it will be providing the Canada Emergency Business Account to support Canadian businesses that have been adversely affected by COVID-19. Eligible businesses will receive a $40,000 loan for immediate financial support to cover short term operating expenses, payroll and other non-deferrable expenses which are critical to business continuity.

The Canada Emergency Business Account details are as follows:

• A $40,000 interest-free (until December 31, 2022), government guaranteed loan to help you pay for operating costs that you’re not able to defer as a result of COVID-19.
• $10,000 (25%) of the $40,000 loan is eligible for complete forgiveness if $30,000 is repaid on or before December 31, 2022.
• If the loan is not repaid by December 31, 2022, it will be extended for an additional 3-year term bearing an interest rate of 5% per annum.
• The loan can be repaid at any time without penalty.
• Full terms and conditions are available within the application.

• Payroll Stream (Payroll > $20,000): Businesses with total employment income paid to employees in 2019 greater than $20,000 and less than $1.5MM can apply directly through the Financial Institution where they hold their primary business chequing/operating account (www.td.com/businessrelief).
• Non-Deferrable Expenses Stream (Payroll ≤ $20,000): Businesses with total employment income paid to employees in 2019 of $20,000 or less, or with no employment income paid in 2019 must first apply through the financial institution where they hold their primary business chequing/operating account (www.td.com/businessrelief) and then apply with the Government of Canada at https://application-demande.ceba-cuec.ca/

The expansion will allow Businesses who have previously been ineligible for CEBA due to not having a Business Banking Operating account to now apply for CEBA. You need to complete the following steps, also outlined on the TD CEBA for Customers without a Business Account site :

1. Complete the mandatory new CEBA Pre-Screen Tool on the Government website. This step does not pre-qualify you, but rather helps you understand your potential eligibility.
• If a business is unable to complete the Pre-Screen process, they are unlikely to qualify for CEBA and should not proceed to the next step of the application process
2. You will receive a 10-digit Pre-Screen number via email if you pass the pre-screen process. This will be required in order to initiate the online account opening process.
3. You will then need to open your new business account via the TD Online Business Account Opening platform.
4. Once you receive confirmation that your new business account is open and compliant you will be notified by an employee at TD at which point you can proceed with applying for CEBA by using the existing application process outlined below.

All other eligibility requirements remain in place, including payroll & expense requirements as well as the requirement for an active Business Number as of March 1, 2020.

The pre-screen tool is meant to mimic the actual application as much as possible. If you do not receive a confirmation number after completing the pre-screen process, please go back and re-enter the inputs requested for your business again to ensure accuracy. If this problem continues to persist and you believe that your Business should receive the pre-screen confirmation number, please visit the CEBA FAQ page.

If you opened your account after March 1st and believe your business qualifies for CEBA, please submit your application via the. CEBA application page.

• For businesses with total employment income greater than $20,000 and less than $1,500,000, you will need:
  • Your Business Account Number and Branch Number
  • Your 2019 T4 Summary of Remuneration Paid statement. You can also contact the Canada Revenue Agency to have them re-issue your 2019 statement.
  • Your CRA Business Payroll Number (BN) (15 digits), which has the format XXXXXXXXXRPXXXX. .
• For businesses with total employment income of $20,000 or less, or with no employment income paid in 2019 you will need:
  • Your Business Account Number and Branch Number
  • Your CRA Business Number (BN) (9 digits)
  • For incorporated businesses, a copy of your 2018 or 2019 T2.
  • For all other unincorporated businesses, a copy of your 2018 or 2019 T1.
  • Proof of eligible non-deferrable expenses that you were or are contractually obligated to pay in 2020 (e.g. a copy of the lease with your landlord for the year 2020, copies of material contracts, etc.).

We have listed some of the eligibility criteria below, per the Government of Canada’s requirements. For a full list of eligibility criteria, please refer to the CEBA application.

1. The Borrower is an active operating sole proprietorship, partnership or Canadian-controlled private corporation that was in operation in Canada as of March 1, 2020.
2. The Borrower has a 9 digit CRA Business Number, with an effective date of registration on or prior to March 1, 2020.
3. If applying through the payroll stream (payroll > $20,000), the Borrower's total employment income paid in 2019 was greater than Cdn.$20,000 and less than Cdn.$1,500,000.
4. If applying through the non-deferrable expenses stream (payroll ≤ $20,000), the Borrower's total employment income paid in 2019 was Cdn.$20,000 or less or the Borrower paid no employment income in 2019.
5. To apply through TD, the Borrower must have an active business chequing/operating account with TD.
6. The Borrower has not previously used the CEBA program or the COVID Indigenous SMEs Initiative and will not apply for support under the CEBA program at more than one financial institution or for support under the COVID Indigenous SMEs Initiative.
7. The Borrower:
   • is not a government organization or body, or an entity owned by a government organization or body;
   • is not a non-profit organization, registered charity, union, or a fraternal benefit society or order, or an entity owned by such an organization, unless the entity is actively carrying on a business in Canada (including a related business in the case of a registered charity) that earns revenue from the regular supply of property/goods or services;
   • is not an entity owned by any Federal Member of the Parliament of Canada or Senator of the Parliament of Canada; and
   • does not promote violence, incite hatred or discriminate on the basis of sex, gender identity or expression, sexual orientation, colour, race, ethnic or national origin, religion, age or mental or physical disability, contrary to applicable laws.

No. Businesses must enroll for CEBA where they have an active business chequing/operating account and cannot apply at more than one financial institution. Doing so will result in ineligibility under the CEBA program, trigger the immediate obligation to repay any loans made under the CEBA program, criminal prosecution, or other enforcement measures available at law or otherwise.

Full details are provided on the Government CEBA websites:

• General CEBA FAQs: https://ceba-cuec.ca/
• Government Document Upload FAQs: https://ceba-cuec.ca/faq

• Review of your application may take up to 20 business days. If deemed eligible, you will receive no further communication, and the funds will be deposited directly into the account that you provided on the application, subject to the ongoing availability of government funding under the CEBA program.
• For businesses with total employment income of $20,000 or less, in order for your application to be reviewed you must also complete the document upload process with the Government of Canada at https://application-demande.ceba-cuec.ca/.
• Contact the new CEBA Call Centre at 1-888-324-4201 to receive a status update on your CEBA application.

The person applying must have the authority to attest on behalf of the business and bind the business to the terms of the CEBA loan agreement.

Each business that has an active business operating account at TD and meets all of the government eligibility criteria is eligible to apply for this program.

Each legal business entity is only eligible for one CEBA loan.

Only businesses with an active business chequing/operating account with TD are eligible to apply for CEBA through TD.

Personal bank accounts are not eligible for the CEBA program. Refer to the Government of Canada CEBA website at https://ceba-cuec.ca/ for more details.

Business savings accounts are not eligible for the CEBA program. Only active business chequing/operating accounts are eligible for the CEBA program.

If you believe that you are eligible under the most recent eligibility criteria, you may re-apply.

There are several reasons why your application could potentially be declined, which will be shared via email. If the reason for decline is specific to the documents uploaded on the Government site, the email will include one or both of the following reasons:

1. Document Upload - Unreadable
2. Document Upload - Document Not Valid

Note: If one of the above reasons is provided, the email will also include the document types that were considered unreadable and/or not valid.

Please refer to the Governments Document Upload guide for guidance on how to upload documents. Once you are ready to proceed, you will need to reapply at both TD and on the Government site as well as upload any supporting documents.

• If you believe that you are eligible for CEBA, please consider reapplying and confirm that the information you previously provided is valid and accurate.
• All decisions are based on the eligibility criteria for the CEBA program, which is defined by the Government of Canada. TD does not have the authority to grant exceptions.
• For requests requiring document upload on the Government of Canada website, TD does not have information regarding specific information or uploaded documents provided in the Government application.
• Refer to the Government of Canada CEBA website at https://ceba-cuec.ca/ or the Government Document Upload FAQs at https://ceba-cuec.ca/faq for more details.
• Contact the new CEBA Call Centre at 1-888-324-4201 to receive a status update on your CEBA application.

If you believe your request should be eligible, please review the following tips before re-applying:

• Make sure the Branch Number you enter matches exactly to the 4 Digit "Branch No" on your Account Statement. It is also located on your EasyWeb profile as the first set of digits beside your account name. If your branch number is less than 4 digits long, add 0's in front of the number. For example, Branch 16 is 0016.
• Your Business Account Number is the last 7 digits of the "Account No" on your Account Statement or the last 7 digits on your EasyWeb profile.
• Refer to the Government of Canada CEBA website at https://ceba-cuec.ca/ or the Government Document Upload FAQs at https://ceba-cuec.ca/faq for more details.
• Contact the new CEBA Call Centre at 1-888-324-4201 to receive a status update on your CEBA application.

There is no formal appeals process for CEBA applications. The eligibility criteria is defined by the Government of Canada. TD does not have the authority to grant exceptions. Refer to the Government of Canada CEBA website at https://ceba-cuec.ca/ or the Government Document Upload FAQs at https://ceba-cuec.ca/faq for more details.

Your branch and account number can be found on EasyWeb or your account statement:

• When you log into EasyWeb, you will see a summary of your accounts.
• Identify the business chequing/operating account you will use for your application
• Beside the account name, you can find your Branch Number (up to 4 digits) and Account Number (up to 7 digits). If your branch (transit) number is less than 4 digits long, add 0's in front of the number. For example, Branch 10 is 0010.
• When you view your Statement of Account you will see Branch No. and Account No. If your branch number is less than 4 digits long, add 0's in front of the number. For example, Branch 10 is 0010.

• Eligible non-deferrable expenses include the following:
  • Wages / Employment to Third Parties,
  • Rent / Lease – Real Estate,
  • Rent / Lease – Capital Equipment,
  • Insurance,
  • Property Taxes,
  • Telephone,
  • Utility – Gas, Oil, Electricity, Water, and Internet
  • Loans, Mortgages, Lines of Credit,
  • Independent Contractor Fees,
  • License Fees, and
  • Authorization / Permission Fees
• Please refer to government resources for additional information on Eligible Non-Deferrable Expenses:
  • General CEBA FAQs: https://ceba-cuec.ca/
  • Government Document Upload FAQs: https://ceba-cuec.ca/faq