CEBA loan application available April 9 at TD

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Departure April 9, eligible TD Business Banking customers will be able to request the Canada Emergency Business Account (CEBA) online at www.td.com/businessrelief.

TORONTO, April 8, 2020 / CNW / – TD understands the financial pressures placed on Canadians and their businesses due to the COVID-19 pandemic. This global health crisis has created extraordinary times for Canadians and for many people around the world. The global economy is slowing down and through Canada, companies are going through a difficult period. Commerce, operations and production routines have been disrupted and have increased pressure on the lives of employees. TD Business Banking teams are ready and prepared to support Canadian businesses in these difficult times.

Departure April 9, eligible TD Business Banking customers will be able to request the Canada Emergency Business Account (CEBA) online at www.td.com/businessrelief.

“If your business is directly affected by COVID-19 and, as a result, is facing financial challenges, we are here to support you,” said David Pinsonneault, Executive Vice President, TD Commercial Banking Services. “With the government, our goal is to provide support to our clients in the face of financial, operational and personal challenges that can arise in a situation of this magnitude. “

The CEBA loan via TD includes:

  • A $ 40,000 without interest (up to December 31, 2022), a government-guaranteed loan to help businesses pay for operating costs that cannot be deferred due to COVID-19.
  • $ 10,000 (25%) of $ 40,000 loan is eligible for full discount if $ 30,000 is fully refunded at the latest December 31, 2022.
  • If the loan is not repaid by December 31, 2022, it will be extended for an additional period of 3 years bearing interest at the rate of 5% per annum.
  • The loan can be repaid at any time without penalty.

To apply for the CEBA Loan with TD, customers must have an active business chequing account with TD as of March 1, 2020 and salary costs 2019 between $ 50,000 and $ 1,000,000. A full list of eligibility requirements, terms and conditions will be available online tomorrow at www.td.com/businessrelief.

We are also actively working with many of our clients to provide flexible solutions to help manage this time. Support for business banking services can include personalized relief programs, loan deferrals, lines of credit, and access to additional working capital on a case-by-case basis.

“We are working hard to find solutions for our customers. We want them to know that we are there for them and that we are focusing on what is important to them, ”added Pinsonneault.

Please note that clients will only be able to apply online. Our account managers, account managers, branch staff and small business advice and call centers will not be able to support applications.

More information will be shared in the coming weeks on other federal government COVID-19 relief programs. Please check www.td.com/businessrelief for the latest information.

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (“TD” or the “Bank”). TD is the sixth largest bank in North America through branches and serves over 26 million customers in three key companies operating in a number of locations in financial centers around the world: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing and TD Insurance; US Retail, including TD Bank, America’s Most Convenient Bank®, TD Auto Finance US, TD Wealth (US) and an investment in TD Ameritrade; and Wholesale Banking Services, including TD Securities. TD is also one of the world’s leading online financial services companies, with more than 13 million active online and mobile customers. TD had 1.5 trillion Canadian dollars in assets on January 31, 2020. The Toronto-Dominion Bank trades under the symbol “TD” on the Toronto and the New York Stock Exchanges.

SOURCE TD Bank Group

For further information: Jillian Tanouye, Corporate and Public Affairs, [email protected], 647-261-6979

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