"Many business owners continue to face the financial implications of the prolonged COVID-19 pandemic, and the government's expansion of the CEBA program comes at a critical time as Canadian businesses look for ways to persevere through these challenging times," says
The deadline to apply for CEBA is
To date, RBC has processed more than 177,000 approved CEBA applications through our self-serve, online process, representing more than
In addition to CEBA, RBC continues to facilitate the delivery of critical government relief programs such as the BDC and EDC Business Credit Availability Programs (BCAP), the
Rallying support for local businesses
The support of Canadians is critical to the successful recovery of Canadian small businesses and the resilience of our economy. In an effort to rally Canadians to 'show local some love', RBC launched its Canada United campaign in August. The initiative brought together more than 70 corporate brands, the national network of the Canadian Chambers of Commerce, business associations and 44 municipalities to encourage Canadians to shop, dine and source locally.
During the Canada United Weekend (
The initiative also included the launch of the
Helping businesses adapt and plan for the future
"The way we live, shop and work continues to evolve rapidly and the effects of the pandemic have only accelerated this pace of change, with a profound impact on small businesses," says
Solutions available to RBC business clients include:
- Ownr, a quick, affordable and online way to get a business registered or incorporated. In support of entrepreneurs during the pandemic, Ownr partnered with Shopify, Staples and Moneris to launch a
$200,000 Canada Starts fund for aspiring entrepreneurs. Ownr also launched Ownr Grants – a$25,000 fund to help entrepreneurs cover some of the costs of their new ventures; - RBC Insight Edge™ for Small Business enables clients in the retail sector to utilize real-time data around changing consumer spending habits, customer demographics and new purchasing patterns to help inform operational and strategic business decisions;
- A selection of business account packages that can be opened remotely by single or multiple business owners through a convenient, virtual advisor-assisted process, and award-winning digital payments solutions such as RBC PayEdge;
- NOMI™ Insights for businesses – a feature available through the RBC Mobile App to provide owners with valuable financial insights such as cash flow and spending analyses across various purchase categories;
- An integrated, all-in-one online payment, eCommerce and shipping solution through RBC's partnership with Moneris, Bookmark and
UPS to start and grow your online business; - A partnership with Nextdoor to offer 'Open for Business Powered by RBC' – an initiative to help revitalize local businesses by connecting them to community members who are most likely to shop, dine and use the services offered by these establishments. RBC clients receive additional benefits on the Nextdoor platform;
- Digitally-enabled third-party solutions like Magnet, ADP, League and Wello to attract talent, effectively manage payroll and employee health and wellness benefits, and virtually support the mental and physical health of employees; and
- Entrepreneurs can access many of these tools, resources and business advice online through the RBC Small Business Navigator at https://www.rbcroyalbank.com/business/small-business-navigator/index.html.
For more details about CEBA, visit www.rbc.com/ceba.
About RBC
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
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