As a member of the Jasper Park Chamber of Commerce, Hinton & District Chamber of Commerce, and Edson & District Chamber of Commerce, Community Futures West Yellowhead (CFWY) would like to offer business coaching to small businesses who accessed the Canada Emergency Benefit Account (CEBA) Program.
The coaching will focus on helping small businesses understand the repayment requirements of their CEBA loans. This service is offered to businesses who are in good standing with their chambers and is available free of charge on a first come, first served basis.
The Canada Emergency Business Account (CEBA) Program was intended to help small businesses by providing financing for expenses that couldn’t be avoided or deferred as businesses were required to adhere to the COVID-19 restrictions and shutdowns in the pandemic. CEBA loans are required to be repaid to the business’ bank by December 31, 2023, in order for the business to be eligible for the forgiveness amounts. Outstanding loans would be converted to a two-year loan with interest at five per cent (5%) per year commencing January 1, 2024, with loans fully repaid by December 31, 2025.
CFWY has experience working with Regional Relief and Recovery Fund (RRRF) clients on understanding their loan agreements, including the repayment requirements. We recognize the need in our West Yellowhead region to provide this same service to CEBA clients. Offering this program through our Chamber partners also enables the West Yellowhead chambers to build capacity and grow their membership.
To make an appointment with one of our business coaches, please contact your local chamber for a referral, or click here to book online.
