Updated – April 3, 2020
We understand that the waiting time to speak to us is longer than usual. We thank you for your patience and ask that you follow certain guidelines:
The Government of Canada is establishing a new Emergency Business Account. This program will allow Canadian businesses to obtain a loan of up to $40,000. The loan will be interest-free for a period of 3 years with a grant of 25% (maximum $10,000), if repaid in full by December 31, 2022.
This program is aimed at eligible businesses and not-for-profit organizations. To be eligible, organizations must meet the following criteria:
How do I benefit from this loan?
To receive this assistance, organizations will need to apply through their primary financial institution where they had an active business chequing account since at least March 1, 2020.
An application form will be available online the week of April 6. We are aware of the urgency of the situation but please note that we will not accept applications before this date. We encourage you to visit this page regularly for the latest news and updates
This measure is intended for companies operating in Quebec that have a satisfactory history of profitability, but are currently experiencing a precarious situation and are in temporary financial difficulty because of COVID-19.
This program gives you access to a working capital loan of a minimum of $71,500.
For more details, visit the Investissement Québec website
If you have an account manager, please contact them directly. If not, please contact our National Bank Business Central® customer service to discuss your situation with one of our experts.
1-844-394-4494, Monday to Friday from 8:00 a.m. to 6:00 p.m. (ET).
This measure is aimed at direct exporters, indirect exporters, and future direct exporters who are in a difficult situation because of COVID-19.
This program allows you to obtain an operating line of credit or cash flow loan of up to $6.25M in CAD, USD or other currency.
For more details, visit the Export Development Canada website
If you have an account manager, contact them directly as a priority. If not, please contact our National Bank Business Central® customer service to discuss your situation with one of our experts.
1-844-394-4494, Monday to Friday from 8:00 a.m. to 6:00 p.m. (ET).
The federal government has announced new measures to help businesses. Wage subsidies will increase from 10% to 75%, retroactively from March 15, for employees of small and medium-sized businesses affected by COVID-19. Businesses and self-employed individuals will be able to defer their GST, QST and customs payments due on imports until June. We will update this information as more details become available.
It’s important to follow the recommendations issued by government authorities and limit your trips to essential places only, such as grocery stores and pharmacies.
For our clients aged 70 and over, who have returned from a trip, have symptoms, or have doubts about their health, we ask that you respect the isolation period recommended by government authorities.
Some branches are temporarily closed and others have reduced business hours. Before leaving your home, consult the list of branches that have closed or adopted new business hours. Our ABMs continue to remain available. To find an ABM near your, click here.
Contact your advisor before visiting your branch. You may be able to schedule a remote meeting.
Yes, you can edit or stop a pre-authorized debit or cheque. To support you during the COVID-19 situation, we have temporarily waived the fees for stop payments until July 5, 2020.
For a stop payment, sign in to your Internet Banking Solutions for Business:
Under Other services in the left menu, click Stop payment
Select the type of payment you want to edit or stop
Follow the instructions
Visit the Help center, available when you sign in to your account:
Criminals always try and get away with fraudulent activities during a time of crisis, and the current situation with Covid-19 is no exception.
Be aware of the increasing number of phishing emails, text messages, false social media news and other fraudulent calls.
Neither National Bank, a public health authority, nor the government will ask for your personal information by email, text message, or with hyperlinks and attachments in emails.
Never click a link in an email or text message without thinking, and don’t open attachments without being sure who sent them. Never give out your Social Insurance Number, password, or other personal information over the phone, even if the person insists.
Here are some hints of a fraudulent email or text message:
To protect yourself:
To learn more about the best practices in fraud prevention, visit our ABCs of security.
The National Bank Business, Platinum Business and Premia credit cards allow contactless payment above $100 at participating merchants. To find out the limit for a specific business, contact the merchant in question directly.
If you can no longer perform the usual duties of your job because of the illness, the claim may be admissible.
It is important to know that a 60-day delay (waiting period) applies for this coverage.
In addition, the exclusion of pre-existing conditions applies:
No benefits will be paid for death, Disability, Critical Illness or Accidental Dismemberment resulting directly or indirectly from pre-existing conditions: the effects of an Illness and/or symptoms or Accident when death, Disability, Critical Illness or Accidental Dismemberment occurs during the 12 months following the effective date of the insurance and for which Illness and/or symptoms, injury or any related cause, resulting directly or indirectly from the Accident or Illness, the Insured, during the 12 months that preceded the effective date of the insurance, had consulted or received treatment from a physician or other health care professional, underwent tests, took medication or was hospitalized.
Disability insurance covers situations where you would be unable to perform the usual duties of your job because of illness. Job loss is not an illness so the claim would not be admissible.
Due to the current situation, the wait time to speak to an agent is longer than usual. This is why we are reviewing our procedure for submitting a loan insurance claim.
Please refer to the Claim page for full details.
The travel interruption protection covers your travel expenses if you have to interrupt or extend your trip due to one or more elements predetermined by the insurer. This list includes, among other things, the recommendation of the Government of Canada, in effect at the time of travel, not to travel to the intended location after reservations have been made. Note that the Mastercard Corporate card does not provide protection for cancellations. To see the other causes covered, consult your insurance certificate.
Please note that the Platinum Business Mastercard does not offer any trip cancellation insurance. If you cancel the trip, your rewards points transaction will be reversed: your points will be returned and the cost of the trip appearing on your invoice will be charged to your Platinum account. If your service provider or insurer agrees to reimburse you, you can claim the cost of the trip appearing on your invoice and charged to your account.
Has COVID-19 impacted your business? Do you need help? Stéphane Archard and Isabelle Savard will explain the various government programs available to you and the support measures the Bank has put in place.