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06.04.2020 / Borrowing « Back to all articles

Canada Emergency Response Benefit - How to Apply
Canadian Flag painted on wood

As part of its Economic Response Plan, Canada has implemented the Canada Emergency Response Benefit (CERB). Persons who have lost their income may qualify for financial assistance. Canada has provided detailed information on how to apply and eligibility requirements on the government website. The benefit can provide substantial relief as the economy and job markets are deeply affected by COVID-19.

Who Is Eligible?

Individuals who have stopped working due to COVID-19 for these reasons should apply for CERB:

  • Job loss
  • Sick or in quarantine from COVID-19
  • Caring for others who are sick or in quarantine from COVID-19
  • Caring for children or dependents due to closure of facilities from COVID-19

People who are still employed may also apply for CERB. If they meet the eligibility requirements, they could qualify for payments. The CERB website also gives guidelines for applying to persons who are eligible for or are currently receiving Employment Insurance (EI) benefits.

 

How Do I Apply?

You can apply for benefits here. You can choose to apply online by using a Canada Revenue Agency (CRA) account. You can use an existing account or open a new one to begin your application process. Phone applications are also available by calling the toll-free number. The system is available 7 days per week, for 21 hours per day. The CERB website notes the preferred application method is online. If you have a Service Canada account, this can also be used to apply.

The application requires personal information, such as contact details and Social Insurance Number, and you must live in Canada. Additional documentation could be requested initially or in the future to verify eligibility.


What Are the Income Guidelines?

Before applying, one important thing to be aware of is the earnings restriction. Individuals applying for the first time are ineligible if they earned more than $1,000 via employment or self-employment income for 14 or more consecutive days within the 4-week benefit period of the claim. Subsequent claims also have restrictions.

 

What Will I Receive in Payments?

If your application is approved, you will receive $500 dollars each week for a maximum number of 16 weeks. This is a temporary benefit to offer relief from income loss for an interim period. Applications are processed quickly, and payments will be disbursed within 10 days. You can receive payment by direct deposit or cheque, and benefits are retroactive to the date of eligibility. Benefits are paid out in 4-week increments but are not automatically renewed. You need to reconfirm your eligibility every subsequent benefit period from the time you first apply.

If you a need funds due to loss of income because of COVID-19, submit a CERB application. If you are currently employed, but your circumstances change, check your eligibility status. The CERB benefit is designed to temporarily ease the effects of this crisis and should be used by all persons who qualify based upon need.

07.02.2020 / Borrowing

5 Good Signs You Can Afford More House
Moving on Up  Buying your first house is a huge milestone, but it’s often not the “forever home”.  Most people move…

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06.04.2020 / Borrowing « Back to all articles

Canada Emergency Response Benefit - How to Apply
Canadian Flag painted on wood

As part of its Economic Response Plan, Canada has implemented the Canada Emergency Response Benefit (CERB). Persons who have lost their income may qualify for financial assistance. Canada has provided detailed information on how to apply and eligibility requirements on the government website. The benefit can provide substantial relief as the economy and job markets are deeply affected by COVID-19.

Who Is Eligible?

Individuals who have stopped working due to COVID-19 for these reasons should apply for CERB:

  • Job loss
  • Sick or in quarantine from COVID-19
  • Caring for others who are sick or in quarantine from COVID-19
  • Caring for children or dependents due to closure of facilities from COVID-19

People who are still employed may also apply for CERB. If they meet the eligibility requirements, they could qualify for payments. The CERB website also gives guidelines for applying to persons who are eligible for or are currently receiving Employment Insurance (EI) benefits.

 

How Do I Apply?

You can apply for benefits here. You can choose to apply online by using a Canada Revenue Agency (CRA) account. You can use an existing account or open a new one to begin your application process. Phone applications are also available by calling the toll-free number. The system is available 7 days per week, for 21 hours per day. The CERB website notes the preferred application method is online. If you have a Service Canada account, this can also be used to apply.

The application requires personal information, such as contact details and Social Insurance Number, and you must live in Canada. Additional documentation could be requested initially or in the future to verify eligibility.


What Are the Income Guidelines?

Before applying, one important thing to be aware of is the earnings restriction. Individuals applying for the first time are ineligible if they earned more than $1,000 via employment or self-employment income for 14 or more consecutive days within the 4-week benefit period of the claim. Subsequent claims also have restrictions.

 

What Will I Receive in Payments?

If your application is approved, you will receive $500 dollars each week for a maximum number of 16 weeks. This is a temporary benefit to offer relief from income loss for an interim period. Applications are processed quickly, and payments will be disbursed within 10 days. You can receive payment by direct deposit or cheque, and benefits are retroactive to the date of eligibility. Benefits are paid out in 4-week increments but are not automatically renewed. You need to reconfirm your eligibility every subsequent benefit period from the time you first apply.

If you a need funds due to loss of income because of COVID-19, submit a CERB application. If you are currently employed, but your circumstances change, check your eligibility status. The CERB benefit is designed to temporarily ease the effects of this crisis and should be used by all persons who qualify based upon need.

Need a
Loan?

Loans from $120 to $15,000. Get funded as soon as today!

07.02.2020 / Borrowing

5 Good Signs You Can Afford More House
Moving on Up  Buying your first house is a huge milestone, but it’s often not the “forever home”.  Most people move…