COVID

Canada Emergency Business Account

  • Dear Minister Morneau,

    Your government is encouraging Canadian businesses to work with their financial institutions to access credit through the Canada Emergency Business Account, under the Business Credit Availability Program being administered by Business Development Bank of Canada and Export Development Canada (EDC).

    A barrier to eligibility arises in that only previously EDC approved financial institutions are able to provide the Canada Emergency Business Account. Many small businesses will not be able to access this credit unless more institutions are added to the list, particularly smaller Credit Unions in rural and remote communities.

    I am asking that you expedite the approval process for Canadian financial institutions during this crisis.

    Sincerely
    Cheryl Gallant, M.P.
    Renfrew-Nipissing-Pembroke

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