Your well-being is our top priority

Find out which financial solutions and member relief programs can help you minimize the financial impact of COVID-19.


Latest Updates
Last updated: March 31, 2021

The Government of Canada has announced that applications for the Canada Emergency Business Account (CEBA) will be open until June 30, 2021. New applicants may apply for a $60,000 loan, while eligible previously approved applicants may apply for the $20,000 expansion. For more information, visit our CEBA page.

For more information on the status of your CEBA loan application, you may check online at the Government of Canada’s CEBA Application Status Website. This site can address questions on the status of your application and how to fix any errors, if applicable. Please wait 5-7 business days after submitting your application before checking the site. You may also contact the CEBA Call Centre at 1.888.324.4201 for the status of your application. The Call Centre is open Monday to Friday from 5:00 am to 6:00 pm Pacific Time.

Please note that due to a high volume of applications for CEBA expansion loans, processing of funds may take up to 7 to 10 business days after approval by the Government of Canada.



A message from Bob Armstrong, Board Chair to members: Read here



Supporting the financial well-being
of your business during COVID-19

Coast Capital is dedicated to working with our business members on a case-by-case basis to provide flexible solutions that are right for your situation. We’re here to help you get through these uncertain times with minimal financial impact.

Select from the below options to learn more about government relief programs available to your business or financial solutions we offer to support our business members' most common needs.



Business Credit Availability
Program (BCAP) Loans


The federal government has made these different loan programs available to meet business’ needs for liquidity to sustain operations during the COVID-19 pandemic.

Canada Emergency Business Account (CEBA)

Through this program, businesses and non-profits can access:

  • A $60,000 loan to help cover non-deferrable operating costs while their businesses are affected by COVID-19. The loan would be interest-free until December 31, 2022.
  • If at least $40,000 of the loan balance is fully repaid by December 31, 2022, the remaining $20,000 may be forgiven.
  • If not repaid by December 31, 2022, the loan will be extended to December 31, 2025 at 5% interest.
  • Please note: Businesses that received the original $40,000 loan and that continue to be affected by the COVID pandemic may now apply for the $20,000 CEBA expansion.

Find out more

For more information on the program, eligibility criteria and application, check out our CEBA page.


EDC Business Credit Availability Program Guarantee

We are partnering with Export Development Canada (EDC) to provide loans backed by the BCAP Guarantee. This program is open to businesses in need of short-term liquidity beyond the amount available in CEBA to sustain operations over the next 12 months.

The EDC BCAP Guarantee backs a loan with the following terms:

  • Up to $6.25 million in financing for eligible and approved businesses
  • Initial one-year duration that we may extend annually for up to five years’ total duration
  • 80% guarantee from EDC to help with risk
  • 1.8% guarantee fee, deferred for the first six months

You do not need to have export sales to qualify.


Find out more

For more details on the program, eligibility criteria, and application process, visit our BCAP Guarantee page.




BDC Co-Lending Facility


The federal government has announced a co-lending facility administered by the Business Development Bank of Canada (BDC) for businesses of all sizes that have been affected by COVID-19.

This program includes:

  • Up to $12.5 million in financing
  • Term of up to 10 years with an amortization of up to 20 years
  • 80% loan participation purchased by BDC

Contact your relationship manager for more information


Highly Affected Sectors Credit Availability Program (HASCAP)



The federal government has authorized BDC to provide a guarantee for low-interest loans to businesses in select highly affected sectors that have seen their revenues decrease by 50% or more due to COVID-19. These loans are meant to assist with operational cash flow.

Qualifying business members can benefit from:

  • Loan amounts ranging from $25,000 to $1 million.
  • A 4% interest rate
  • Repayment term of up to 10 years
  • Up to 12-month postponement of principal payments
This program is available until June 30, 2021.

Contact your relationship manager for more information

For more details on the program and eligibility criteria, visit the HASCAP page at BDC


Additional Government Subsidies
and Loans for Businesses


The government has announced subsidies to assist with paying employee wages and rent while revenues are reduced due to COVID-19.  Where possible, Coast is working to make receipt of these payments easier through direct deposit.

Canada Emergency Wage Subsidy (CEWS) direct deposit

Coast Capital Savings is working with the Canada Revenue Agency (CRA) to make payments from the Canada Emergency Wage Subsidy (CEWS) more efficient through direct deposit. The CEWS provides eligible employers with a subsidy of 75% of an eligible employee's weekly earnings, to a maximum of $847 per employee per week for up to 12 weeks. Retroactive to March 15, 2020, the CEWS aims to prevent further job losses and encourage employers to re-hire workers previously laid off as a result of COVID-19.

We've made receiving CEWS payments easier, faster, and safer through direct deposit. Enrol for direct deposit today to receive payments directly into your business account.  Learn more

Read the details on how to apply for the subsidy on the CRA website or read our Frequently Asked Questions

IMPORTANT: When signing up for CEWS, be sure to use the same legal business name that is used in filing the business’ taxes. This information will be used to cross-reference applications.  If the name on the application does not match, it may be delayed or rejected.

Canada Emergency Rent Subsidy (CERS)

The Canada Emergency Rent Subsidy (CERS) is a direct subsidy paid by the federal government to qualifying businesses, charities and non-profits to cover part of their commercial rent or property expenses. This program is available directly to tenants.

To learn more and apply, visit the government's CERS website.



Regional Relief and Recovery Fund (RRRF)

To ensure that small businesses have access to the capital they need to see them through the current challenges resulting from COVID-19, Canada’s six Regional Development Agencies (RDAs) are providing eligible businesses with interest-free repayable funding under the RRRF.

These programs are being implemented by the individual RDAs and program terms and eligibility differ by RDA.

BC Small and Medium Sized Business Recovery Grant


The Small and Medium Sized Business Recovery grant offers fully funded grants of $10,000 to $30,000 to BC businesses to support them through COVID-19. An additional $5,000 to $15,000 grant is available to eligible tourism-related businesses.

To learn more and apply, visit the BC government’s website for the Business Recovery Grant.
BC Circuit Breaker Business Relief Grant


The Circuit Breaker Business Relief Grant is available to hospitality and fitness businesses in BC that have been affected by the March 30, 2021 Provincial Health Officer orders. This grant provides $1,000 to $10,000 to impacted businesses.

To learn more and apply, visit the BC government’s website for the Circuit Breaker Business Relief Grant.

Payment Relief for Businesses


Coast Capital and our partners have made available a number of options for payment deferrals and temporary relief during the COVID-19 pandemic.


Coast Business Visa Relief Measures

Desjardins Card Services is temporarily offering payment deferrals and reduced interest rates on Coast Visa Desjardins credit cards for eligible business members affected by COVID-19.

These temporary measures include:

  • Up to 6 months of deferred payments without penalty, without a negative impact on credit ratings
  • Reduced interest rate on credit cards to 10.9% for the duration of the deferred payment for members that qualify for the payment deferral
Talk to Desjardins today

For more information and to apply call 1-800-224-7737 or visit the Desjardins website.


The relief measures and application outlined on the Desjardins page apply to business members as well as personal members. Eligibility and length of payment deferral will be determined on a case-by-case basis and, as Desjardins issues the card, can only be approved by contacting them.
Auto Finance Payment Deferral

Coast Capital Auto Finance Team is here to support you through the financial hardships of COVID-19. We’re offering auto loan payment deferral for up to 3 months on a case-by-case basis.

Please note: Interest is accrued to the outstanding balance of the loan and incorporated into your payments once they resume.

Talk to our Auto Finance Team

The fastest way to start the deferral process is by emailing us.



Financial Solutions for your business


We’re here to get you back on track for the short term and plan strategically for the long term. Here’s a list of the top FAQs and inquiries from our small business members, as well as a suite of products and services designed to help you tackle some of the financial challenges your business may be facing:


Here are a few different ways to either find the money you need or to free up some wiggle room to improve your cash flow:

Business Lines of Credit (BLOC)

Consider this your safety net. There is no operating cost to having a BLOC and once you’re approved, you’ll have quick access to working capital (up to $25,000+). Plus you only pay interest on the amount you use.

Learn more

Coast Visa Business Card

A credit card could be exactly what you need if you’re looking for short-term cash flow. And in many cases, you can take advantage of your card's grace period to pay off your balance without interest.
Learn more
Auto Refinancing

If your business is open and you’re on the road, there is an opportunity to refinance your business vehicle loans for lower monthly payments. It can help minimize business expenses and improve cash flow.

Learn more

Need more help? Talk to us today

Every business is different and that means your financial strategy should be personalized to the needs of your company and its goals. Call your advisor or book an appointment to discuss the right financial solutions for your situation.



Let's give credit to small business

Do you give credit the credit it deserves? Learn about all the different kinds of lending available to you as a business owner and how you can use it to your advantage.


Let's give credit to small business

Do you give credit the credit it deserves? Learn about all the different kinds of lending available to you as a business owner and how you can use it to your advantage.



Ensuring you have safe capital growth during this time is key to preparing for the future. We can help provide advice and solutions to make sure your money is safely invested and accessible if you need it.

1-Year Better Than Cash® Term Deposit

Term deposits are a safe investment option because the money you invest is always guaranteed. And our Better Than Cash Term Deposit gives you the flexibility to maintain full access to your savings. It pays like a locked-in rate, but it's redeemable after 6 months without penalty on interest payable.

Learn more

Non-Redeemable Term Deposits


If you have extra cash or savings set aside due to deferred plans or projects and don’t need to tap into it for an extended period, consider our 15-month or 24-month non-redeemable term deposits. You’re guaranteed a competitive interest rate and you can grow your savings safely.

Learn more

Wealth Management


Our Wealth Team creates strategies for every aspect of your financial including income and retirement planning and tax matters. We’ll find financial solutions to ensure your investments are working towards your business and personal needs. We’ll advise on the right strategies to ensure you’re on the path to meet your short and long-term goals.

Learn more

Ready to get started?

You can purchase your term deposits through Online Banking or the Mobile app. You can also call our Small Business team at 1.855.375.7775 or book an appointment with them.



All about term deposits

What's a term deposit, is it a safe and secure investment option and how does it work? We've put together a guide to understanding all things term deposits.


All about term deposits

What's a term deposit, is it a safe and secure investment option and how does it work? We've put together a guide to understanding all things term deposits.


Being prepared with a plan is the best thing you can do for your business. You’re an expert at running your business and we’re the experts in all things finance. Let us help you find the right financial solutions to help you reduce expenses, improve your cash flow and grow and protect your future so your business functions at its best.

Business Loans and Business Lines of Credit (LOC)

If you need cash flow for short-term or long-term growth, you have options. A Business Line of Credit is a safety net. There is no operating cost and once you’re approved, you’ll have quick access to working capital. Or, if you are looking to reposition and rebuild your business, a business loan can help modernize your operations at an affordable rate with flexible payment terms.

Learn more

Term Deposit


Term deposits are a safe investment option because the money you invest is always guaranteed. We have a variety of term deposit products for your unique saving needs, including redeemable options that give you the flexibility to maintain full access to your savings, and non-redeemable options that give you a competitive interest rate.

Learn more

Merchant Solutions


Merchant solutions allow you to collect payments anywhere, anytime and with less delay. Your cash flow will improve with funds deposited in your business bank account the next day. 

Learn more

Auto Refinancing

If your business is open and you’re on the road, there is an opportunity to refinance your business vehicle loans for lower monthly payments. It can help minimize business expenses and improve cash flow.



Learn more

Wealth Management

Our Wealth Team creates strategies for every aspect of your financial including income and retirement planning and tax matters. We’ll find financial solutions to ensure your investments are working towards your business and personal needs. We’ll advise on the right strategies to ensure you’re on the path to meet your short and long-term goals.

Learn more

Let’s build the right plan for your business, together.


Every business is different and that means your financial strategy should be personalized to the unique goals and needs associated with your business. Call your advisor or book an appointment to discuss the right financial solutions for your situation.


5 essential small business banking tips

Small business owners face many challenges in today’s markets. Here are 5 business banking tips to build a solid financial foundation for your business through borrowing, savings and finding the right balance between personal and business.


5 essential small business banking tips

Small business owners face many challenges in today’s markets. Here are 5 business banking tips to build a solid financial foundation for your business through borrowing, savings and finding the right balance between personal and business.



Let’s build the right plan for your business, together

We’ve created a virtual advice hub packed with information about the different financial stages you might be in during COVID-19. If you need relief now, want to stay on track or plan for your future you can learn about areas of advice our team specializes in, and the types of services our members have been asking for most.


Let’s build the right plan for your business, together

We’ve created a virtual advice hub packed with information about the different financial stages you might be in during COVID-19. If you need relief now, want to stay on track or plan for your future you can learn about areas of advice our team specializes in, and the types of services our members have been asking for most.


Have more questions?

Call us at 1.888.517.7000 Mon-Sat, 8am-8pm; Sun, 9am-5:30pm.

For information about the complaints handling process, click here.

*Terms and conditions apply. Applications subject to approval and to funding availability and eligibility criteria of the Canada Emergency Business Account program. Program details may change.

+Subject to approval