TORONTO, April 8, 2020 /CNW/ - RBC announced today that the online-only enrollment process to participate in the Government of Canada's Canada Emergency Business Account (CEBA) will be live on April 9, 2020 via RBC Online Banking for Business. Eligible businesses will receive a $40,000 government-funded loan to cover short term operating expenses, payroll and other non-deferrable expenses which are critical to sustain business continuity.
"We understand how important and time-sensitive this relief is for businesses across Canada in order to support their workforce and sustain business continuity," said Greg Grice, Executive Vice-President, Business Financial Services for RBC. "We've created a self-serve, digital-only enrollment process so that we can quickly and seamlessly deliver critical funds to eligible businesses through our existing RBC Online Banking for Business channel."
To enroll for CEBA, clients must log into their RBC Online Banking for Business account as the online enrollment process for RBC clients will only be available through this platform. If clients are not registered for online banking, they can do so by visiting RBC's Online Banking for Business registration page. As part of the enrollment process, clients will need four things:
- Update their email and contact details within their RBC Online Banking for Business profile before starting their enrollment
- Their RBC business client card number
- Their organization's 2019 T4 Summary of Remuneration Paid statement. They can also contact the Canada Revenue Agency to have them re-issue their organization's 2019 statement
- Confirm that the person enrolling for CEBA has the authority to attest on behalf of the organization and legally bind the organization to the terms of the CEBA loan agreement.
RBC Express clients who are not enrolled for Online Banking for Business will need to contact their RBC Account Manager for separate instructions on CEBA enrollment.
Clients who need more information about CEBA and its eligibility requirements should visit The Government of Canada's website for more information.
More information about how RBC is supporting businesses across Canada during these times can be found at www.rbc.com/businessrelief.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 85,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.
SOURCE RBC Royal Bank
For further information: AJ Goodman, [email protected], 416-955-7014