Churches can now apply for federal small business loan

When the $40,000 Federal Government’s Canadian Emergency Business Account was first announced in April, it was believed that churches could apply. Then we learned churches were excluded. Well, after much persistence and lobbying from Chinook Winds Region and the National Church, the loan is now available to local churches that meet eligibility criteria, notably generating revenue from rentals or the sale of goods and services as reported on their annual charitable return.

CEBA extends interest-free loans of up to $40,000 to eligible small businesses and non-profit organizations. A quarter of the value of these loans (up to $10,000) is forgivable if the balance is repaid by December 31, 2022.

Churches apply through their local financial institution. Permission from Chinook Winds Region is HERE.  Another resource is the United Church’s bridging loan.

Any questions, email Joel Den Haan, Chinook Winds Community of Faith Support & Strategy. Also United in Learning will hold an information session on Wednesday, June 24, 5 pm MT.