New CEBA rules open door to family firms

OTTAWA — Small family businesses, as well as those who employ contractors, can finally access the Canada Emergency Business Account program, thanks to new rules that came into effect last week. Companies with payrolls amounting to less than $20,000 can now apply for loans of $40,000 provided that they have at least that much in eligible expenses. “The main groups that are going to benefit from this today are groups with no or little payroll, because they pay themselves with dividends,” said Dan Kelly, chief executive of the Canadian Federation of Independent Business. “Also those that have contract workers and no paid staff, and companies, like salons, that rent chairs as their business model.”