Small Business relief

Supporting small businesses in our community

Get access to the latest relief measures for small businesses serving our community

Canada Emergency Business Account (CEBA) & other relief measures

Find out more about the limited-time, interest-free loan for small businesses, including eligibility criteria and how to apply. 

Learn more Learn more about Canada Emergency Business Account (CEBA)

Financial relief for small business credit card payments

Learn about credit card monthly minimum payment deferrals available for your business and how to apply.

Learn more Learn more about Financial relief for small business credit card payments

The Business Development Bank of Canada Business Credit Availability Program

The BDC BCAP program provides access to a non-revolving amortizing term loan of up to $312,500. The program is intended to support bridging businesses’ operating expenses (i.e., payroll, rent, utilities, taxes and other fixed costs), until cash flows resume back to pre-COVID conditions.

Learn more Learn more about The Business Development Bank of Canada (BDC) Co-Lending Facility – coming soon

Direct Deposit for Canada Emergency Wage Subsidy (CEWS)

Direct deposit is a fast, secure and convenient way to receive your Canada Emergency Wage Subsidy payments. Using Scotia OnLine, mobile banking or ScotiaConnect you can quickly enrol your eligible business account for direct deposit in a few easy steps.

Learn more Learn more about Set up direct deposit

Small Business FAQs

Find answers to our most frequently asked questions for small businesses.

On March 27, Prime Minister Trudeau announced additional measures to support businesses through this time. Scotiabank, together with other leaders in the banking community, has been consulting with the government on these measures, designing them specifically to help small and medium-sized employers with their most pressing needs and position the economy to recover.

The Canada Emergency Business Account will provide qualifying business customers and clients access to a $40,000 loan:

  • 0% interest until December 31, 2022.

  • No principal payments until December 31, 2022.

  • Principal repayments can be voluntarily made at any time without fees or penalties.

  • $10,000 loan forgiveness is available, provided outstanding balance is $40,000 at December 31, 2020, and $30,000 is paid back between January 1, 2021 and December 31, 2022.

  • If any part of the balance is not paid by December 31, 2022, the remaining balance will be converted to a 3-year term loan at 5% annual interest, paid monthly, effective January 1, 2023.

  • The full balance must be repaid by no later than December 31, 2025.

Note: Once you are approved for CEBA, you will receive a deposit of $40,000 in your operating account within five business days, and will have a new loan displaying as “ScotiaLine for Business VISA” within online banking.

Apply online

Small business customers that meet each of the following criteria will be eligible for the program:

  • The person applying has the ability and authority to bind the organization.
  • Your organization is a Canadian operating business (i.e. not a holding company) in operation on March 1, 2020.
  • Your organization’s payroll expense in the 2019 calendar year was between  $20,000 and $1,500,000 (updated payroll expense requirements effective April 17, 2020). You will need to have a federal tax registration and provide:
    • Your Canada Revenue Agency Business Number (BN) (15 digits), as reported at the top of the 2019 T4 Summary of Remuneration Paid(T4SUM)
    • Your total employment income reported in Box 14 of the 2019 T4SUM. For customers who also pay employees tax-exempt employment income under the Indian Act, all employment income reported in Box 71 of T4 statements issued to the organization’s employees for 2019 must also be included in the total
    • Information to demonstrate the above when requested upon audit by the Federal Government
  • Per the requirements of the program, as set out by the Federal Government, you will agree to use funds from this loan to pay for operating costs that cannot be deferred, such as payroll, rent, utilities, insurance, property tax and regularly scheduled debt service.
  • You have an active business chequing/operating account at Scotiabank, which is your primary financial institution.  Your account was opened prior to March 1, 2020, and was not in arrears on existing borrowing products, if applicable, with Scotiabank by 90 days or more as of March 1, 2020.
  • You are not applying for this program at any other financial institution.  You understand that applying for support under the Program at more than one financial institution may result in ineligibility under the Program, default under the facility in respect of which this attestation is being provided, prosecution or other enforcement measures available at law or otherwise.
  • You agree to participate in post-funding surveys conducted by the Federal Government or any of its agents.
  • You intend to continue to operate your business or to resume operations.
  • You authorize Export Development Canada, as your representative with the Canada Revenue Agency, to access any required payroll information for the purpose of verifying eligibility.

Please note the following businesses are not eligible for the Canada Emergency Business Account:

  • Government organizations or bodies, or entities owned by a government organization or body.
  • Unions, charitable, religious or fraternal organizations or entity owned by such an organization or if it is, it is a registered organization that has filed its T2 return or T3010 return and that generates a portion of its revenue from the sales of goods or services.
  • Entities that are structured as a holding company.
  • Entities owned by any federal Member of Parliament or senator.
  • Entities that promote violence, incite hatred or discriminate on the basis of sex, gender identity or expression, sexual orientation, colour, race, ethnicity, religion, culture, region, education, age or mental or physical disability, contrary to applicable laws.

No. The eligibility criteria only applies to your 2019 payroll expenses, as displayed on your T4 Summary of Remuneration Paid (T4SUM). For customers who also pay employees tax-exempt employment income under the Indian Act, all employment income reported in Box 71 of T4 statements issued to the organization’s employees for 2019 must also be included in the total.

You must maintain a balance of $40,000 on your CEBA loan until December 31, 2020 to qualify for the full $10,000 loan forgiveness. If you repay $30,000 from your operating account to your ScotiaLine for business Visa between January 1, 2021 and December 31, 2022, the remaining $10,000 balance will be forgiven.

Any balance owing on this account can be repaid at any time. To qualify for the $10,000 loan forgiveness, the outstanding balance should be $40,000 at December 31, 2020, and you will need to repay $30,000 from your operating account to your ScotiaLine for business Visa between January 1, 2021 and December 31, 2022. You will not be charged any interest charges or service fees.

If your business experiences a hardship due to COVID-19, you may be eligible to qualify for additional relief measures. Please contact your Small Business Advisor, Branch Manager, Agriculture Specialist or Healthcare & Professional Specialist.

We will work with you individually to offer advice and assistance with liquidity and financial covenant relief, including temporary lending payment deferrals or other forms of short-term support to customers who meet required qualifications. 

As the situation evolves rapidly, we will be adjusting our hours, and in some cases there may be a need for us to close some of our branches. If a branch is required to be temporarily closed, we will post a sign on the door informing our customers and we will update our branch locator regularly.

You can complete your small business banking needs with the following options available: 

  • Visit Scotia OnLine banking to complete many of your everyday and small business banking needs through online banking and the Scotia mobile banking app available in the App Store or Google Play.

If you are not currently registered for Scotia OnLine banking, please visit for resources on how to register for Scotia OnLine banking and the Scotia mobile banking app.

At this time, all merchants are accepting credit and debit, and our ABMs will continue to operate as normal. We are continuing to monitor the situation as needed to ensure that you are able to withdraw cash if you need it.