The Prime Minister has announced an expansion to the eligibility criteria for the Canada Emergency Business Account to include many owner-operated small businesses. The changes will allow more businesses to access interest-free loans to help cover operating costs during a period when revenues have been reduced due to the pandemic. The program will now be available to a greater number of businesses that are sole proprietorships, businesses relying on contractors, and family-owned corporations paying employees through dividends rather than payroll.

Expenses will be subject to verification and audit by the federal government and funding will be delivered in partnership with financial institutions. Further details are to be released in the days to come.