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Important Information*

RBC is committed to helping business clients access the CEBA loan funded by the Government of Canada. Eligibility is based on criteria established by the Government of Canada outlined in Question 2 of the FAQs below.

To submit an enrollment request for CEBA, log into your RBC Online Banking for Business. If you are not enrolled yet,  click here to enroll in RBC Online Banking for Business. If you are an RBC Express client, please contact your RBC Commercial Account Manager for separate instructions on how to submit an enrollment request for CEBA.

Please note that the CEBA enrollment request cannot be fulfilled in our branches, or through our advisors and RBC Telephone Banking.

Please see below for the full CEBA FAQs, including further details about the CEBA eligibility criteria in Question 2.

If you have additional questions regarding CEBA that are not answered in our FAQs or on the Government of Canada website, please call our dedicated CEBA support line at 1-888-648-3511.

NOTE:  If your CEBA application has been declined and the reason provided relates to the inability of the Government of Canada to find or match information in the Canada Revenue Agency database with the information provided in your CEBA enrollment request, please contact the Canada Revenue Agency and not the CEBA Call Centre to discuss or rectify the issue described.  The email that you receive communicating the Government of Canada’s decline of your application will include the reason provided to us by the Government of Canada for the decline. 

Canada Emergency Wage Subsidy (CEWS)

The Government of Canada’s Canada Emergency Wage Subsidy (CEWS) provides eligible employers a subsidy of 75% of employee wages for up to 24 weeks, retroactive from March 15, 2020, to August 29, 2020.

For detailed information about the program, eligibility, and how to apply, refer to the Government of Canada’s site.

You should also enroll for CRA Direct Deposit by logging into your RBC Online Banking for Business or RBC Express platform. CRA Direct Deposit is a quick, safe and secure way to receive eligible amounts to be paid to you by the Canada Revenue Agency (CRA) such as CEWS, should you be eligible for this program. Please see the FAQs below for more details. If you are eligible and expecting a CRA payment of more than $25 million, click here for details on how to receive your payment thought the Large Value Transfer System.

IMPORTANT: Please note that enrolling for CRA Direct Deposit through your RBC Online Banking for Business or RBC Express does not register you for the Government’s CEWS. You must apply for CEWS through the CRA directly. For instructions on how to apply, click here.

The BDC Co-Lending Program

The BDC Co-Lending program is designed to support Canadian businesses of all sizes that have been negatively impacted by COVID-19. Eligible applicants can access funding up to $6.25 million CAD (maximum loan amounts dependent on business size) to cover operating expenses (such as rent, payroll and other operating expenses) and working capital needs. For more program details, please read the FAQ below.

BDC Mid-Market Financing Program

The Business Development Bank of Canada (BDC) announced the availability of the BDC Mid-Market Financing Program to help medium sized Canadian businesses (revenues in the range of $100 million to $500 million) impacted by COVID-19. Eligible applicants can access $12.5 million to $60 million CAD (or USD equivalent) in short-term liquidity to maintain their staff, preserve supply chains and manage cash-flow. For more program details, please read the FAQ below.

The EDC Business Credit Availability Program (BCAP) Guarantee:

The Government of Canada announced the availability of the Export Development Canada (EDC) BCAP Guarantee help Canadian businesses with impacted by COVID-19. Eligible applicants can access up to $6.25 million CAD in short-term liquidity to cover expenses which are critical to business continuity such as rent, payroll and other operational costs. For more program details, please read the FAQ below.

RBC is also offering a number of temporary relief solutions for business and commercial clients affected by COVID-19. Temporary relief support may include:

  • Business loan payment deferrals
  • Reimbursement for Credit Card Interest Charges: Effective April 6, 2020, RBC will provide business and commercial credit card clients receiving minimum payment deferrals with a credit to their credit card account(s) to reimburse them for 50% of the interest charged to their account(s) during the period they are receiving the deferrals. The credit(s) will be displayed on upcoming statement(s).
  • Waived setup fees for new enrollments to cash management solutions
  • Waived Stop Payments fee

We are also assessing the needs of businesses on a case-by-case basis to provide relief solutions that are tailored to their circumstances, including:

  • Increases to operating line of credit limits
  • Deferrals of minimum payment credit card obligations for up to 3 months.

If your business is experiencing financial hardship as a result of COVID-19, please contact your advisor or call our Advice Centre at 1-800-ROYAL-20 to discuss your options.

If you need more time before your next minimum payment on your credit card is due, you can request us to temporarily waive the requirement for your business to make the minimum payment on your business credit cards for up to three months (deferring your payment) – this is referred to as your relief period. This may provide some short-term financial relief to your business during the COVID-19 situation.

You should carefully evaluate your business’ financial situation and priorities before exercising this option to the extent it is available to your business.

If no payments are made during the relief period, the minimum payment may be higher at the end of the relief period.

Interest will continue to accrue at the annual interest rates during the relief period. We will continue to add interest charges to the outstanding balance, along with any transactions, which may cause the outstanding balance on the account to increase during that period. We do not charge interest on accrued interest.

To try and further help your business during this difficult time, if your business is receiving minimum payment deferrals, RBC will reimburse 50% of the interest charged to the account(s) during the relief period. This credit(s) will be displayed on upcoming statement(s).

During the relief period your business always has the option to make one or more payments towards the outstanding balance.

At the end of the relief period, the minimum payment will again become due and owing and your business will no longer be eligible to receive credits to the account for the interest charges. If your credit card account is protected with BalanceProtector insurance, you may be eligible to submit a claim in the event of a job loss due to a layoff or dismissal without cause. Please visit the Assurant website https://cardbenefits.assurant.com to submit a claim to the insurer. Please note that BalanceProtector premiums will continue to be charged to your account and increase your outstanding balance. Interest will not be charged on BalanceProtector premiums.

Reimbursement for Credit Card Interest Charges: Effective April 6, 2020, RBC will provide business and commercial credit card clients receiving minimum payment deferrals with a credit to their credit card account(s) to reimburse them for 50% of the interest charged to their account(s) during the period they are receiving the deferrals. This credit(s) will be displayed on upcoming credit card statement(s).

Putting the health and safety of our clients and employees first, RBC announced plans to temporarily close select branches nationally. Please see the full list of closed branches. We ask that you check the branch locator for the most current information.

Through RBC's collaboration with Wello – a leading Canadian virtual healthcare company – we are making it easier for you to provide important COVID-19 screening information, timely access to physicians and nurse practitioners for health advice, and resources to support general health needs, including prescriptions, diagnostic and specialist referrals. Wello can support your employees' physical and mental health needs, wherever they are. If you are an RBC business client, you can access more information about Wello by signing in to RBC Online Banking and from the top of your Accounts Summary page, select the Offers for You link to browse your offers or log into the RBC Rewards app.

Do More Digitally

We remain committed to ensuring that your business needs are met. While select branches are closed, our advisors and solutions remain available to you across a variety of channels. Given the current situation, we are experiencing extremely high call volumes.

As always, the RBC Mobile app, Standard RBC Online Business Banking and Premium Online Business Banking solutions are safe, easy-to-use and available 24/7.

Standard RBC Online Banking for Business

Explore all you can do online from the convenience of home or work

  • One user requires access to Online & Mobile Banking
  • Gives you 24/7 access to your business accounts – for no fee
  • Let’s you deposit cheques and stay on top of your business banking anywhere, anytime, through your mobile device
  • Ideal for use by a businesses with a lower number of transactions

Premium Online Banking with RBC Express

RBC Express might be right for your business if:

  • You are looking to delegate banking tasks to employees or other service providers
  • You need to manage and oversee a large number of business accounts
  • You are looking for extensive monitoring and reporting capabilities
  • You will be making high value payments and transactions

RBC Mobile App

Manage your business finances from anywhere.

  • Getting paid is easier
  • Stay on top of your cash flow
  • Manage your financial picture
  • Learn more

Access our newest features with the latest update of the RBC Mobile app.

Get the RBC Mobile app in the App Store (opens in a new window) Get the RBC Mobile app on Google Play (opens in a new window)

Or text “RBC” to 722722 and we’ll send you the link

For more information on ways to bank with RBC, including how to sign up for Online Business Banking, RBC Express or to download the RBC Mobile app click here.

Helpful Business Tools and Templates

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Frequently Asked Questions

Government of Canada's Relief for Business*

Canada Emergency Business Account (CEBA)

The Government of Canada has been providing the Canada Emergency Business Account to support Canadian businesses that have been adversely affected by COVID-19. Eligible businesses receive a $40,000 loan for immediate financial support to cover short term operating expenses, payroll and other non-deferrable The Canada Emergency Business Account details are as follows:

  • It’s a $40,000 loan to help eligible businesses pay for operating expenses, payroll and other non-deferrable expenses which are critical to sustain business continuity.
  • No interest applies before January 1, 2023.
  • Until December 31, 2020, the Canada Emergency Business Account will be funded as a revolving line of credit for $40,000 through the RBC® CreditLine for Small Business™.
  • After December 31, 2020, any outstanding balance on the revolving line of credit will be converted into a non-revolving 5‑year term loan maturing on December 31, 2025, at which time the balance must be paid in full.
  • For details on the CEBA terms and conditions from the Government of Canada, click here.
  • The CEBA loan forgiveness amount is based on the maximum balance on your RBC CreditLine for Small Business at any time between the date of account open and December 31, 2020.
  • Loan forgiveness of 25% will apply when you repay 75% of your maximum loan balance by December 31, 2022.
  • The CEBA loan forgiveness amount is based on the maximum balance on your RBC CreditLine for Small Business at any time between the date of account open and December 31, 2020.
  • To qualify for the maximum forgiveness of $10,000, your maximum balance on the RBC CreditLine for Small Business must have been $40,000 at any time between date of account open and December 31, 2020.
  • Commencing on January 1, 2023, interest will accrue on the balance of the term loan at the rate of 5% per annum, payable monthly on the last day of each month.

For more details, please see FAQ #32 below.

Payroll Stream: for businesses with total employment income paid to employees in 2019 greater than $20,000 and less than $1,500,000;

Non-Deferrable Expenses Stream: for businesses with total employment income paid to employees in 2019 of $20,000 or less and 2020 Eligible Non-Deferrable Expenses (subject to adjustments for support or subsidies under other Government of Canada COVID response programs) greater than $40,000 and less than $1,500,000. The following applies exclusively to the non-deferrable expenses stream;

  • Your organization must have a Canada Revenue Agency business number and have filed a 2018 or 2019 tax return
  • Your organization must have eligible estimated 2020 non-deferrable expenses, less the amount of benefits your organization has received or is expecting to receive in 2020 in support or subsidies under any other Government of Canada COVID-19 response programs, of between $40,000 and $1,500,000.

    The Eligible Non-Deferrable Expenses categories are the following:
    • Wages and other employment expenses to independent (arm’s length) third parties;
    • Rent or lease payments for real estate used for business purposes;
    • Rent or lease payments for capital equipment used for business purposes;
    • Payments incurred for insurance related costs;
    • Payments incurred for property taxes;
    • Payments incurred for business purposes for telephone and utilities in the form of gas, oil, electricity, water and internet;
    • Payments for regularly scheduled debt service;
    • Payments incurred under agreements with independent contractors and fees required in order to maintain licenses, authorizations or permissions necessary to conduct business by the Borrower
    • Payments incurred for materials consumed to produce a product ordinarily offered for sale by the Borrower.

For more details on eligible non-deferrable expenses such as how to calculate and what qualifies as non-deferrable expenses, please click here to visit the Government of Canada’s website.

Non-Deferrable Expenses will be subject to verification and audit by the Government of Canada.

The following eligibility criteria applies to both CEBA streams:

  • Your organization must have an active RBC Business chequing or operating account that was opened on or before March 1, 2020;
  • RBC must be your organization’s primary financial institution;
  • Your organization must be a Canadian operating business in operation as of March 1, 2020;
  • Your organization must not have any accounts or loans at RBC that were in arrears 90 days or more as at March 1, 2020;
  • Your organization must not have previously been granted a CEBA loan
  • Your organization must not have previously used and must not apply for support under the COVID Indigenous SMEs Initiative in order to qualify for the CEBA program

Then, you must attest on behalf of your organization that ALL of the following statements are true and correct, as required by the Government of Canada.

Yes. The deadline to apply is October 31, 2020.

The enrollment request form is online and only accessible by RBC business clients through RBC Online Banking for Business. Once the enrollment request form is completed online, it will be automatically sent to the Government of Canada for verification. Click here to enroll in RBC Online Banking for Business. If you are an RBC Express client, please contact your RBC Account Manager for separate instructions to complete the online enrollment request form for CEBA. Please note that the deadline to submit an enrollment request form under the CEBA program is October 31, 2020.

If you are applying under the non-deferrable expenses stream (if your organization’s total employment income paid in the 2019 calendar year was $20,000 or less), then you will also need to visit the Government of Canada web page to upload the documentation relating to your organization’s 2020 eligible estimated non-deferrable expenses for verification. Please note that you must successfully upload the required non-deferrable expenses documentation at the Government of Canada web page.

Once your non-deferrable expenses documentation has been uploaded successfully, the government will review it together with the information entered in your enrollment request form.

Preparing for Enrollment

Please note that the deadline to submit an enrollment request form under the CEBA program is October 31, 2020.

If you want to submit an enrollment request, please follow these instructions:

  1. Enroll in RBC Online Banking for Business if you have not already done so. If you are not enrolled for in Online Banking for Business, click here. If you are an RBC Express client, contact your relationship manager to request to enroll for CEBA
  2. Confirm that your email and contact details are up to date for your organization on your RBC Online Banking for Business profile
  3. Gather the following documentation as it will be required based on your eligibility criteria

    Payroll Stream

    If your organization’s total employment income paid in the 2019 calendar year was greater than $20,000 and less than $1,500,000 you will need :

    • Your RBC business client card number
    • Your organization’s legal name on record with the Canada Revenue Agency and operating, trade or business name if different from its legal name
    • Your organization’s employer account number, as reported at the top of the 2019 T4 Summary of Remuneration Paid
    • Your organization’s employment income, reported in Box 14 of your organization’s 2019 T4 Summary of Remuneration Paid
    • If applicable, the sum of all employment income reported in Box 71 (Indian Exempt Income – Employment) of your employees’ individual 2019 T4s.

    Non-Deferrable Expenses Stream

    If your organization’s total employment income paid in the 2019 calendar year was $20,000 or less you will need:

    • Your RBC business client card number
    • Your organization’s legal name on record with the Canada Revenue Agency and operating, trade or business name if different from its legal name
    • Your organization’s Canada Revenue Agency business number
    • Your most recently filed T1 Income Tax and Benefit Return or your organization’s T2 Corporation Income Tax Return (2018 or 2019)
    • The estimated amount of your organization’s total eligible non-deferrable expenses in calendar year 2020 (including without limitation, payroll, rent, utilities, insurance, property tax and regularly scheduled debt service, see FAQ #2 for full list of eligible non-deferrable expenses)
    • Documentation supporting your organization’s estimated 2020 eligible non-deferrable operating expenses (which will need to be uploaded to the Government of Canada web page for verification after you complete your enrollment request). Please note that you must successfully upload the required non-deferrable expenses documentation at the Government of Canada web page.
    • The total amount of benefits your organization has received or is expecting to receive by December 31, 2020 in support or subsidies under any other Government of Canada COVID-19 response programs.

    IMPORTANT: The information you provide in your enrollment request will be automatically sent to the Government of Canada for verification. Please ensure the accuracy of all information before you submit your enrollment request. Once the government has completed its verification process, RBC will email you to let you know whether or not the government has approved your organization’s enrollment.

Only one person from the organization can agree to the legal documents in the online enrollment request process for the CEBA. The person applying on behalf of your organization must have the legal authority to attest on behalf of the organization and legally bind the organization to the terms of the RBC Legal Documentation applicable to the CEBA. For example, if more than one person is normally required to sign legal documents for your organization, whether under your internal requirements or your agreement with RBC, your organization has to ensure the proper documentation, like a resolution to waive the requirement for multiple signatories for the purpose of enrolling the organization in the CEBA, is made to legally permit a designated person to request enrollment and attest on behalf of the organization. If the other usual signatories for your organization agree, then the designated person can go ahead and request to enroll.

If you are not an existing RBC Online Banking for Business client, click here to enroll.

Yes. Please reach out to your RBC Account Manager for more details.

Eligibility and CEBA Enrollment

No, they are similar but not the same. Your organization's CRA Business Number is the first 9 digits of your GST/HST account number, or the first 9 digits of the Employer Account Number if your organization filed a 2019 T4 Summary of Remuneration Paid.

Your Employer Account Number is the 15-character CRA account number which is found at the top of your organization’s 2019 T4 Summary of Remuneration Paid.

Applicants should add together all 2019 T4SUM statements and compare that total amount against the CEBA eligible payroll range, which is a payroll amount greater than $20,000 and less than $1,500,000.

For example, a business with the following two payroll numbers would have a total payroll amount of $100,000, which is within the eligible range:

  • Payroll number 1 (…RP0001)
    • 2019 T4SUM = $30,000
  • Payroll number 2 (…RP0002)
    • 2019 T4SUM = $70,000
  • Total 2019 T4SUM = $100,000

If you are applying based on the eligible non-deferred expenses stream and your organization’s total employment income paid in the 2019 calendar year was $20,000 or less you are required to upload documentation to the Government of Canada’s web page for verification to support the $40,000 or more of your organization’s estimated Eligible Non-Deferrable Expenses for 2020.

The Government of Canada will rely upon the accuracy and truthfulness of the information and associated documentation you provide in your application to approve or decline your enrollment request.

When uploading documents please follow the instructions and tips on the CEBA Document Upload Instruction Guide.

IMPORTANT : If you are applying based on the eligible non-deferred expenses stream and your organization’s total employment income paid in the 2019 calendar year was $20,000 or less, the Government of Canada will not review your request to enroll until the documentation supporting your Eligible Non-Deferrable Expenses are uploaded into the government web page. Your request to enroll in CEBA will remain incomplete and will not be considered for funding.

The Government of Canada web page

For more information and detailed instructions on the upload process, please review the Government of Canada Document Upload Instruction Guide and FAQ

Please click here to link to the Government of Canada website and upload your documents as part of the enrollment request process for the CEBA Non-Deferrable Expenses Stream.

No. Businesses cannot apply for CEBA at more than one financial institution. Doing so may result in ineligibility as well as legal prosecution by the Government of Canada.

Your business must request enrollment for the CEBA at your primary financial institution where you had a business account as of March 1, 2020.

Only one person from the organization can agree to the legal documents in the online enrollment request process for the CEBA. The person applying on behalf of your organization must have the legal authority to attest on behalf of the organization and legally bind the organization to the terms of the RBC Legal Documentation applicable to the CEBA. For example, if more than one person is normally required to sign legal documents for your organization, whether under your internal requirements or your agreement with RBC, your organization has to ensure the proper documentation, like a resolution to waive the requirement for multiple signatories for the purpose of enrolling the organization in the CEBA, is made to legally permit a designated person to request enrollment and attest on behalf of the organization. If the other usual signatories for your organization agree, then the designated person can go ahead and request to enroll.

No. The Canada Emergency Business Account is only available to business clients who had an RBC business account as of March 1, 2020. The government has announced additional relief measures to support sole proprietors. Further information is available at the Government of Canada’s COVID-19 Economic Response Plan site.

Yes, you can still submit an enrollment process if you are a current borrower of other RBC lending solutions.

If your organization has previously used the COVID Indigenous SMEs Initiative then you are not permitted to apply for support under the CEBA program.

If you are participating in any other response programs, yes, you can submit an enrollment request for the CEBA loan funded by the Government of Canada. If your organization’s total employment income paid in 2019 was $20,000 or less you will need to deduct the support or subsidies your organization has or will receive by December 31, 2020 under any other Government of Canada COVID-19 response program from your total eligible non-deferrable expenses in your enrollment request.

Other Government of Canada COVID response programs include the following:

  • Canada Emergency Wage Subsidy,
  • 10% Temporary Wage Subsidy,
  • Canada Emergency Commercial Rent Assistance, Regional Relief and Recovery Fund,
  • Futurpreneur Canada,
  • Northern Business Relief Fund,
  • Fish Harvester Grant,
  • relief measures for Indigenous businesses, and
  • $250 million COVID-19 IRAP (Industrial Research Assistance Program) Subsidy Program

Each business entity may enroll for CEBA provided that it has its own 9 digit CRA business number. Each business must individually meet the eligibility criteria and only one CEBA loan will be approved per 9 digit CRA business number.

No. The CEBA at RBC is automatically funded with a $40,000 line of credit until December 31, 2020. Clients may choose to utilize the full amount or less. After December 31, 2020, any outstanding balance on the revolving $40,000 line of credit will be converted into a non-revolving 5-year term loan maturing on December 31, 2025, at which time the balance must be paid in full.

If you require more than $40,000 offered by CEBA, please speak with your RBC Account Manager or RBC Telephone Banking to explore other RBC solutions to support your additional financing needs. Details on additional  government initiatives to support businesses, including the Business Development Bank of Canada (BDC) Co-Lending Facility and the Export Development Canada (EDC) Business Credit Availability Program Guarantee are also available. Check the Government of Canada website regularly for the latest details.

Your Account Manager cannot complete the request on your behalf. If you only have access to RBC Express, please contact your RBC Account Manager for separate instructions to enroll online for CEBA.

For all other RBC business clients, the enrollment process can only be completed online by logging into RBC Online Banking for Business. If you are not enrolled yet, click here to enroll in RBC Online Banking for Business. Please note that while our RBC Account Managers and RBC Telephone Banking advisors are available to help answer your questions about CEBA, they are not authorized to fulfill enrollment requests.

Once you have submitted your enrollment request, it will be automatically sent to the Government of Canada for verification. Please ensure the accuracy of all information before you submit your enrollment request

If your organization’s total employment income paid in the 2019 calendar year was $20,000 or less (meaning that you are applying in the Non-Deferrable Expenses stream), you also need to visit the Government of Canada web page to upload the documentation relating to your organization’s 2020 eligible non-deferrable expenses for verification. Once that documentation has been uploaded successfully, the Government of Canada will review that documentation together with your enrollment request.

Once the government has completed its verification process and let RBC know, RBC will email you to communicate the government’s decision.

Once the government has completed its verification process and let RBC know, RBC will email you to communicate the government’s decision regarding your organization’s enrollment request.

If your organization is approved by the Government of Canada, we will email you and will provide further details regarding the processing of your CEBA loan and how to access it.

If your organization is declined by the Government of Canada, RBC will email you and include the reasons provided by the Government of Canada for the decline.

If there are issues with the documentation your organization uploaded at the Government of Canada webpage, the Government of Canada will let us know and we will send you an email with the details provided.

If you have submitted an enrollment request for the Canada Emergency Business Account (CEBA) and have the following questions:

  • What is the status of my application?
  • Why was my application declined?
  • Why was my submitted document rejected?

Please contact the Government of Canada’s new CEBA Call Centre at 1-888-324-4201 between Monday to Friday from 8:00 am to 9:00 pm EST. The CEBA Call Centre is temporarily operating as a call-back only service to manage customer wait times. No live agents will be available. Instead, you will be prompted to leave your contact details so that you can be entered in the cue for a call back from a live agent within the CEBA Call Centre’s operating hours.

NOTE:  If your CEBA enrollment request has been declined and the reason provided relates to the inability of the Government of Canada to find or match information in the Canada Revenue Agency database with the information provided in your CEBA enrollment request, please contact the Canada Revenue Agency and not the CEBA Call Centre to discuss or rectify the issue described.  The email that you receive communicating the Government of Canada’s decline of your application will include the reason provided to us by the Government of Canada for the decline.

Once the government has completed its verification process, RBC will let you know by email whether or not the government has approved your organization’s enrollment. Once the government approves your enrollment into the program, the $40,000 loan will be made available through the RBC CreditLine for Small Business within 7 business days of government approval. It will appear in your list of accounts on your RBC Online Banking for Business or RBC Express profile.

No. When you enroll for CEBA, a credit card is not issued.

No, there are no cash advance fees to transfer your CEBA funds into your RBC Business Deposit Account. However, we are aware of a technical issue where some clients may receive a message during the transfer process stating that a cash advance fee will be applied. We are looking into this technical issue. Please note that no fee has been or will be applied to your CEBA fund transfer, regardless of whether you see this message.

There are a number of other relief measures that are being provided by the Government of Canada through its Canada’s COVID-19 Economic Response Plan  to help support individuals and businesses. Additional government relief measures offered through the Business Development Bank of Canada (BDC) and the Export Development Canada (EDC) can be found here.

RBC is also offering a number of temporary relief solutions that may help business clients affected by COVID-19, please click here for further details.

Yes. Please review the Government of Canada's Relief for Business to determine which programs you may be eligible for.

Troubleshooting Online CEBA Enrollment

The enrollment process for RBC business clients is completely online and only accessible through RBC Online Banking for Business. If you are not yet enrolled, click here to enroll in RBC Online Banking for Business.

To submit an enrollment request, log into your RBC Online Banking for Business and click the banner below the list of your accounts on the Account Summary page.

If you are an RBC Express client, please contact your RBC Commercial Account Manager for separate instructions to enroll for CEBA.

If the tool stops working before you click “Submit”, you can refresh your page and continue or restart your enrollment process. Upon successful submission you will receive email notification acknowledging your request for enrollment along with an overview of next steps. Please ensure that the email address you provide us during the enrollment process is the correct email.

If your request for enrollment for the CEBA loan is approved, the $40,000 loan will be made available through the RBC CreditLine for Small Business. It will appear as a Visa account under Credit Cards on your ‘My Accounts’ page with a $0.00 balance when you log into your RBC Online Banking for Business or RBC Express profile.

  • Log in to RBC Online Banking for Business or RBC Express
  • Your CEBA loan is listed as a Visa account under Credit Cards on your ‘My Accounts’ page with a $0.00 balance
  • To access the funds, click on the Visa account number
  • The credit limit of the Visa account will be $40,000
  • You can then transfer the funds from your RBC Visa CreditLine for Small Business directly to your RBC business banking account while in RBC Online Banking for Business or RBC Express

As you transfer your CEBA funds into your RBC Business Deposit Account, the balance will adjust. Please note that there are no cash advance fees to transfer your CEBA funds.

In some cases, while you may see the funds on your online banking profile, it may take up to 24 hours before funds can be accessed.

Loan Terms

No interest applies until January 1, 2023. Commencing on January 1, 2023, interest will accrue on the balance of the term loan at the rate of 5% per annum, payable monthly on the last day of each month.

You may start repaying the loan in part or in full at any time without penalty. No principal repayments are required until December 31, 2025. Monthly interest only payments are required on the last day of the month commencing January 2023. The entire loan and all accrued and unpaid interest is due and payable on December 31, 2025.

The 25% loan forgiveness for CEBA will apply when you repay 75% of your maximum loan balance by December 31, 2022.

The following outlines the guidelines for forgiveness and repayment on the CEBA loan:

  • December 31, 2020, is the last day you can withdraw money from your CEBA loan on the RBC CreditLine for Small Business.
  • On January 1, 2021, the outstanding balance of your CEBA loan will convert to a 5-year term loan.
  • The CEBA loan forgiveness amount is based on the maximum balance on your RBC CreditLine for Small Business at any time between the date of account open and December 31, 2020.
  • To qualify for the maximum forgiveness of $10,000, your maximum balance on the RBC CreditLine for Small Business must have been $40,000 at any time between date of account open and December 31, 2020.
  • To qualify for forgiveness you must repay 75% of the maximum balance of your CEBA loan by December 31, 2022.

Here are some examples of CEBA loan repayment and forgiveness amounts:

Responsive Table Example
Maximum Balance on or before Dec 31, 2020 Amount Repaid on or before Dec 31, 2022 Forgiveness Amount (Don’t repay)
Company A $40, 000 $30, 000 (75%) $10, 000 (25%)
Company B $25,000 $18,750 (75%) $ 6,250 (25%)
Company C $0
(never used funds)
$0 $0

To calculate your repayment and forgiveness amounts:

  • Your repayment amount = the maximum balance amount x 0.75
  • Your forgiveness amount = the maximum balance amount x 0.25

Canadian Emergency Wage Subsidy (CEWS)

The Canada Emergency Wage Subsidy (CEWS) provides a 75% wage subsidy to eligible employers for up to 24 weeks, retroactive to March 15, 2020. 

The CEWS aims to prevent further job losses, encourages employers to re-hire workers previously laid off as a result of COVID-19, and helps to enable businesses to resume and sustain normal operations following the crisis.

You can find more detailed information about the Government of Canada’s CEWS Program, eligibility criteria, and how to apply on the Government of Canada’s site.

You can find more detailed information about the Government of Canada’s CEWS funding calculations on the Government of Canada’s site.

For the complete CEWS eligibility details as set out by the Government of Canada, please visit the Government of Canada’s site.

RBC business clients now have the option to enroll for CRA Direct Deposit though RBC Online Banking for Business and RBC Express.

To sign up for CRA Direct Deposit:

  • Ensure that you are enrolled in RBC Online Banking for Business or RBC Express.
    • If you have not signed up for RBC Online Banking for Business and you are an existing RBC business client, click here to find out how to enroll.
  • Log in to your RBC Online Banking for Business or RBC Express.
    • RBC Online Banking for Business users can go to the Account Details page and click on the link on the right side of the screen to enroll for CRA Direct Deposit.
    • RBC Express users will see an alert to register for CRA Direct Deposit as soon as you have signed in.

    Important note: When enrolling for CRA Direct Deposit, please have your CRA Business Number (BN), including your CRA Program Account Identifier for payroll ready. You will need to enter this as part of the CRA Direct Deposit enrollment process. Click here for more information on the BN and CRA Program Account Identifier.

    Please note that enrolling for CRA Direct Deposit through your RBC Online Banking for Business or RBC Express does not register you for the Government’s CEWS. You must apply for CEWS through the CRA directly. For instructions on how to apply, click here.

  • Log into your CRA My Business Account portal to make sure that your direct deposit information has been updated. Please note that this update may take up to 24-48 hours, and processing times may vary.

No. You need to apply for CEWS through the directly. For instructions on how to apply, click here.

RBC is not acting as an administrator or facilitator of this program. The CRA Direct Deposit enrollment feature being offered by RBC is only for the purposes of helping business clients enroll to receive direct deposits from CRA for amounts (such as CEWS) to be paid to the client by CRA.

For instructions on how to apply, click here.

CEWS payments are administered by the Canada Revenue Agency (CRA). Please click here or contact the CRA for more details on the payment disbursement process.

CEWS payments are administered by the Canada Revenue Agency (CRA). Please click here or contact the CRA for more details on payment disbursement process.

EDC Business Credit Availability Program (BCAP) Guarantee

The EDC Business Credit Availability Program (BCAP) Guarantee is an EDC-guaranteed business loan to help Canadian businesses impacted by COVID-19. Eligible applicants can access up to $6.25 million CAD in short-term liquidity to cover expenses which are critical to business continuity such as rent, payroll and other operational costs.

The EDC Program features:

  • Term loans up to CAD $6,250,000
  • Terms of up to 5 years
  • Fixed 80% EDC guarantee
  • Loan is repayable in full on the 12-month anniversary
  • EDC guarantee fee of 1.8% on the authorized loan amount
  • 6-month EDC Guarantee fee payment deferral

For more details on the program, eligibility and application process, RBC business clients can contact their RBC Account Manager. RBC business clients who do not have a dedicated RBC Account Manager can call our Advice Centre at 1-866-591-0757.

No. The EDC BCAP Guarantee can be used to support new facilities to provide incremental emergency liquidity. It cannot be used to support an existing facility.

No. The EDC BCAP Guarantee will also be available to non-export, domestic businesses.

To qualify for an EDC BCAP, the client must:

  • Apply for a new term loan up to $6.25million CAD to finance short-term operations in response to COVID-19

The client must NOT be:

  • Government organizations or bodies or entities owned by a government organization or body.
  • Unions, charitable, religious or fraternal organizations or entities owned by such organizations except registered T2 or T3010 corporations that generate a portion of their revenue from the sales of goods or services (so that business operations of those entities remain eligible.
  • Entities owned by individuals any federal Member of Parliament or Senator.
  • Entities that violence, incite hatred or discriminate on the basis of sex, gender identity or expression, sexual orientation, colour, race, ethnic or national origin, religion, age or mental or physical disability, contrary to applicable laws.

RBC business clients should speak with their RBC Account Manager to learn more about the application process and eligibility criteria. RBC business clients who do not have a dedicated RBC Account Manager can call our Advice Centre at 1-866-591-0757.

BDC Co-Lending Program

The Government of Canada announced the availability of the Business Development of Canada (BDC) Co-Lending program supporting Canadian businesses of all sizes that have been negatively impacted by COVID-19. Eligible applicants can access up to $6.25 million CAD (max. loan amounts dependent on business size) in loans to cover operating expenses such as rent and payroll, and working capital needs such as inventory. The loan will be jointly funded by RBC and BDC.

RBC Term Loan - Maximum Loan Amount
Businesses with less than $1 million in annual revenue Businesses with $1-$50 million in annual revenue Businesses with over $50 million in annual revenue
Up to $312,500 Up to $3.125 million Up to $6.25 million

RBC business clients of all sizes that have been impacted by COVID-19 and meet the eligibility criteria can apply for the BDC Co-Lending Program.

To qualify for a BDC Co-Lending Program, clients must have:

  • Been a client of RBC as of March 1, 2020
  • Been a viable business as of March 1, 2020 prior to COVID-19 impact
  • Met the necessary requirements that will form part of the application process

Please contact your RBC Account Manager for further details on the eligibility criteria.

  • Term loan
  • Interest-only payments for the first 12 months
  • Amortization and terms based on your business needs

Please contact your RBC Account Manager for further details on the terms and conditions.

RBC business clients should speak with their RBC Account Manager to learn more about the application process and eligibility criteria. RBC business clients who do not have a dedicated RBC Account Manager can call our Advice Centre at 1-866-591-0757.

Clients that have applied for the CEBA program and/or the EDC BCAP Program may also apply for the BDC Co-Lending Program. Your RBC Advisor can help you determine which solutions are suited for your financial needs.

Your RBC Advisor will work with you to complete the application process and will keep you apprised of your loan approval status.

BDC Mid-Market Financing Program

The BDC Mid-Market Financing Program will provide junior loans, done jointly with the business’ primary lender, to help Canadian businesses impacted by COVID-19. Eligible applicants can access from $12.5 million to $60 million CAD (or USD equivalent) in short-term liquidity to cover expenses which are critical to business continuity such as rent, payroll and other operational costs.

The BDC Program features:

  • Mezzanine loans between $12.5 million and $60 million CAD (or USD equivalent) funded 90% by BDC and 10% by the company’s principal senior lender
  • 4 year interest only term (interest paid in kind for the first year)
  • Program ends September 30, 2020

For more details on the program, eligibility and application process, RBC business clients can contact their RBC Relationship Manager.

To qualify for the BDC Mid-Market Financing Program a client must:

  • Apply for a new term loan for $12.5 million to $60 million CAD (or USD equivalent) to finance short-term operations in response to COVID-19
  • Have been financially stable and viable prior to the current economic turmoil
  • Requests must meet BDC’s underwriting requirements for this program for businesses negatively impacted by COVID-19

RBC business clients should speak with their RBC Relationship Manager to learn more about the application process and eligibility criteria.

RBC Business Client Relief Program

RBC is offering a number of temporary relief solutions for business clients affected by COVID-19. We are assessing the needs of businesses on a case-by-case basis to provide relief solutions that are tailored to their circumstances. Temporary relief support may include:

  • Business loan payment deferrals
  • Increases to operating line of credit limits
  • Deferrals of minimum payment credit card obligations for up to 3 months
    • Reimbursement for Credit Card Interest Charges: Effective April 6, 2020, RBC will provide business and commercial card clients receiving minimum payment deferrals with a credit to their credit card account(s) to reimburse them for 50% of the interest charged to their account(s) during the period they are receiving the deferrals. The credit(s) will be displayed on upcoming credit card statement(s).
  • Waived setup fees for new enrollments to cash management solutions
  • Waived Stop Payments fee
  • Waived ATM mini-statement fee

If your business is experiencing financial hardship as a result of COVID-19, please contact your advisor or call our Advice Centre at 1-800-ROYAL-20 to discuss your options.

Please contact your advisor or call our Advice Centre at 1-800-ROYAL-20 to request us to temporarily waive the requirement that the business pay the minimum payment on your business credit card for up to three months. Please note that approvals for a deferral requests are not guaranteed.

Yes. Please note that approval of deferral requests are not guaranteed.

Deferred payments will not be reported to credit reporting agencies as missed payments.

The advisor will inform you of your eligibility for a minimum payment deferral request.

Interest will continue to accrue at the annual interest rates of your credit cards during the period you’re a deferring your minimum payment (referred to as the relief period). We will continue to add interest charges to the outstanding balance, along with any transactions, which may cause the outstanding balance on the account to increase during that relief period. We do not charge interest on accrued interest. To try and further help your business during this difficult time, if you are receiving a minimum payment deferral, credits will be applied to the credit card account to reimburse your business for 50% of the interest charged to your account during the relief period. These credit(s) will be displayed on upcoming credit card statement(s). After the relief period your business will no longer be eligible to receive credits to the account for interest charged.

With the unprecedented impacts of COVID-19, we are temporarily waiving fees for stop payments until September 30 2020. You can use RBC Online Banking for Business to manage stopping pre-authorized bill payments or cheques that are coming out of your bank account.

Instructions for RBC Online Banking Stop Payments:

Our Branches

For the health and safety of our employees and communities, RBC has temporary closed a number of branches. Some branches remain open and we ask clients to limit branch visits for urgent matters that must be done in-person.

We are limiting the number of clients allowed in the branch at any given time, to practice physical distancing – for both employees and clients. We’ve also installed Plexi Protection Screens to create a safer banking environment.

We encourage clients to only come to the branch if it is essential to do so, and to please use RBC Online Banking or the RBC Mobile app if at all possible.

To support the needs of our clients, we have introduced a number of relief measures. You can read about the RBC Client Relief Program – as well as all of our safety measures – at rbc.com/covid-19

Our priority is the safety and wellbeing of our employees and our clients. We have increased frequency of cleaning, with daily disinfection of our retail branches and ATMs, and will continue to improve as we need to.

RBC announced plans to temporarily close select branches nationally. We ask that you check the branch locator for the most current information prior to your visit.

In the event of a branch closure, a notice will be posted on the branch door. To find the next closest location, simply visit maps.rbcroyalbank.com. Our Branch locator will also have updated information on whether your branch is open or closed.

RBC remains committed to supporting you through all channels. As always, the RBC Mobile App and RBC Online Business Banking solutions are safe, easy-to-use and available 24/7. You can:

  • View account balances, transaction history, and your RBC business credit card account information
  • Send and receive money with simple and easy solutions like Interac® e-Transfer and Interac® Request Money. Sign up for the Autodeposit feature if you haven’t already so that the Interac e-Transfers you receive are safely and directly deposited into your account, and your funds are immediately available to you.
  • Make bill payments online so that you can eliminate cheques and reduce the administrative time.
  • Digitally deposit cheques using the RBC Mobile app and smartphone camera when it’s most convenient to you. 
  • Manage your other banking needs

For more information on ways to bank with RBC, including how to sign up for Online Business Banking, RBC Express or to download the RBC Mobile App click here.

Supporting communities affected by COVID-19

RBC has committed an initial $2-million in support of COVID-19 community response efforts. As a first step, RBC will be donating funds to respond to community needs in Canada, the U.S. and globally to charitable partners including Food Banks Canada; Feeding America and The World Health Organization’s Covid-19 Solidarity Response Fund.