COVID-19 Commercial Programs

CEBA Update December 4, 2020

  • $60,000 loan is now available for members who have not previously received a CEBA loan
  • $20,000 top-up loan is now available for members with an existing CEBA loan
  • The CEBA application timeline has been extended until March 31, 2021
  • Applications forms are available on MemberDirect

Support Local BC: Gift Certificate Program

We know that times are challenging for you as a local business and it is our goal to provide you with a boost whi le we work through this difficult economic time.

Canada Emergency Wage Subsidy (CEWS)

The CEWS will be generally available to all eligible employers and will amount to 75 percent of the total "eligible remuneration" paid during the "eligible period." Read more at the links below.

The CRA Direct Deposit for Canada Emergency Wage Subsidy (CEWS) form is now available for members using EKC’s Member Direct Small Business. The form can be found under Account Services.

To be eligible to enroll for CRA direct deposit for businesses, the business must have a valid business number and a Payroll account (RP). The CRA requires that CEWS payments can only be deposited to an account opened prior to March 1, 2020.

You can receive the following CRA payments through direct deposit:

  • refund of payroll deductions
  • the new Canada Emergency Wage Subsidy

CEWS is for Canadian employers whose business has been affected by COVID-19. If eligible, the subsidy offers 75% of employee wages for up to 24 weeks, retroactive from March 15, 2020.

The purpose of the subsidy is to enable the business to re-hire workers previously laid off as a result of COVID-19, help prevent further job losses, and better position the business to resume normal operations following the crisis.

EDC Business Credit Availability Program (BCAP)

As part of the federal government’s new $65 billion Business Credit Availability Program (BCAP), East Kootenay Community Credit Union and Export Development Canada (EDC) are partnering to provide small-and medium-sized Canadian businesses with financing during the COVID-19 pandemic.

Canada Emergency Commercial Rent Assistance (CECRA)

CECRA for small businesses helps commercial property owners pay mortgages and reduce tenant rent.

Small Business Loans

In addition to our regular loans EKC has an online application to expediate applications.

Financial Relief for EKC’s Non-Profit, Entrepreneurs and Small Business

If you are experiencing financial hardship as a result of COVID-19, we’re here to help you explore options.

On a case-by-case basis we will work with you to help determine what is best for you.

Your options include:

  • defer payments for your existing mortgage and loans
  • small business loan
  • account reviews and advice on other potential programs
Payment deferrals are a helpful short-term solution for anyone experiencing financial hardship, but they might not be the best solution for everyone. We are here to help you determine what the right option is for you.

We want you to be able to focus on what’s most important while you work through this tough time.

Mortgage & Loan Deferral – Contact our Team

Stephen Gort
Commercial Account Manager
Dir 778.519.8061
Cell 250.910.7005
Tel Fernie 250.423.9222

Tanya Hansen
Small Business Advisor
Dir 250.417.4522
Cell 250.919.2118

  • helping Elk Valley commercial members with lending needs over $250,000
  • approximately 30 years of financial services experience, with over 7 years of commercial lending experience
  • Cranbrook and The Elk Valley
  • helping commercial members with lending needs under $250,000
  • approximately 16 years of financial services experience
Tomoe Surtees
Commercial Account Manager, Commercial Services
Dir 250.417.4521
Cell 250.919.1853
  • helping Cranbrook members with commercial lending needs over $250,000
  • over 25 years of experience in the financial industry, with 10 years experience in commercial lending

We always have time to see how we can assist your business.


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