Message from our CEO
April 21, 2020

Dear members,

Synergy is now accepting applications for CEBA (Canada Emergency Business Account) loans. Apply today.

CEBA will provide interest-free loans up to $40,000 to eligible businesses. To qualify, businesses will need to demonstrate they:

  • paid between $20,000 and $1.5 million in total payroll in 2019
  • have operated a business account as of March 1 ,2020
  • have a federal tax registration and business number as reported on the borrower’s 2019 T4 summary of remuneration paid
  • are not a union, charitable, religious or fraternal organization.  
Repaying the loan on or before December 31, 2022, will result in loan forgiveness of 25% (up to $10,000).

We continue to work through the BCAP (Business Credit Availability Program) process with EDC (Export Development Canada) and the federal government. Please be patient with us as it could take Synergy another 4 to 5 weeks to gain approval. In the interim, please call our Member Contact Centre (1-866-825-1350 or 1-306-825-3301) to register your interest and we will contact you once Synergy is able to deliver on the BCAP program.

To stay up to date on what is available from the government, I encourage you to visit COVID-19: Guide and Government Aid Programs regularly.   

Drop me a note if you have questions or concerns.

Stay safe. Take care.

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