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We are here for you 

Support for small and medium businesses and the non-profit and charitable sector 

Alterna Bank is here for you and committed to supporting small, medium, non-profit and charitable sector businesses (SMEs) through the COVID-19 pandemic. As the engine that drives the Canadian economy, the viability of these businesses is paramount to Canada’s economic success. We’re here to help.

For additional information, visit the Government of Canada website.


Business Credit Availability Program (BCAP) Guarantee*:

Co-Lending Program

Up to $12.5 million for your operational cash flow requirements.
Learn more

EDC Business Credit Availability Program (BCAP) Guarantee

Up to $6.25 million to cover rent, payroll and other operating costs caused by the current crisis.

Learn more

For more details on the program, eligibility and application process, business members can contact their Alterna Account Manager.

For detailed information about the program, eligibility, and how to apply, refer to the Government of Canada’s site.


Canada Emergency Wage Subsidy (CEWS)

The Government of Canada’s Canada Emergency Wage Subsidy (CEWS) provides eligible employers that have experienced an eligible reduction in revenue to receive a subsidy of 75% of employee wages for up to 12 weeks, retroactive from March 15, 2020. 

The Federal Government has launched an updated calculator to help employers estimate what help they may receive from the next phase of the Canada Emergency Wage Subsidy.

  • The maximum top-up subsidy rate is 35%
  • The maximum subsidy amount for employees on leave with pay is $595
  • The base revenue drop comparison months for period 11 will be the same as period 10

For detailed information about the program, eligibility, and how to apply, refer to the Government of Canada’s site.

Canada Emergency Rent Subsidy (CERS)

New Support for Commercial Tenants: Canada Emergency Rent Subsidy (CERS), replaces the CECRA Program and would provide direct and easy-to-access rent and mortgage support directly to qualifying organizations.

Qualifying businesses, charities and non-profits would receive a subsidy of up to 65% of eligible expenses until December 19, 2020.

Lockdown Support

Qualifying organizations that have been significantly affected by a mandatory public health order issued by a qualifying public health authority would receive an additional 25% of rent support through the CERS.

Combined with the other support received under the CERS, this means that hard hit businesses, non-profits, and charities could receive a rent subsidy of up to 90%.


Alterna Microfinance team is working with members to assist them in managing their businesses through these challenging times. Please contact your Account Manager for assistance.

A micro-entrepreneur may also qualify for the Canada Emergency Response Benefit of $500 per week up to 16 weeks. 


Please contact your Account Manager who is available to support you during these uncertain times.

If you don’t have a dedicated Account Manager, contact your branch or the Contact Centre to be referred.

The Contact Centre is available 7 days a week and can be reached at 1-844-843-8448.

  • Monday – Friday: 8:00 am – 6:00 pm
  • Saturday & Sunday: 9:30 am – 4:00 pm

For businesses that have been impacted by COVID-19 but do not meet the criteria for Government Access to Credit programs, please contact your Account Manager or Business Banker to see how else we may be able to help

For further information, click here. 

*All Applicants are subject to Alterna Savings’ lending criteria.

For further information, click here.