In the wake of the COVID-19 pandemic, Canada has launched a new program to support small business owners – barbershops, included. The Canada Emergency Business Account will “provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.”
To qualify, your shop must demonstrate that you’ve…
- Paid a total between $50,000 – $1 million in payroll during 2019
The program is slated to begin mid-April, and to begin the application process – business owners are instructed to reach out to their respective banks in Canada.
More details can be found here, under the “Access to Credit” subheading.