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  • Writer's pictureJessica Koch

Should you work with a coach to make your CEBA loan repayments?

The Canada Emergency Business Account (CEBA) loan forgiveness program offers eligible businesses the opportunity to have a portion of their CEBA loan forgiven. Here are some ways a coach can help you take advantage of the program:

  1. Eligibility Assessment: A coach can help you determine whether your business is eligible for the CEBA loan forgiveness program. They can review your loan documents, financial statements, and other relevant information to ensure that you meet the eligibility criteria.

  2. Documentation Preparation: A coach can assist you in preparing the required documentation for the loan forgiveness program. They can help you gather the necessary information, complete the application forms, and ensure that all supporting documents are included.

  3. Compliance: A coach can help you ensure that your business is compliant with the terms and conditions of the CEBA loan forgiveness program. They can provide guidance on how to use the funds, how to maintain the necessary financial records, and how to avoid any potential compliance issues.

  4. Optimization: A coach can help you optimize your loan forgiveness application to maximize the amount of loan forgiveness you are eligible for. They can provide advice on how to structure your financial statements, how to calculate your revenue reductions, and how to ensure that you are claiming all eligible expenses.

  5. Negotiation: A coach can negotiate with your financial institution on your behalf to ensure that you receive the maximum amount of loan forgiveness possible.

Overall, hiring a coach can provide you with the expert guidance and support you need to navigate the CEBA loan forgiveness program effectively and maximize the benefits available to your business.

To find out if working with the experts at Koch Financial is right for you, click below to book your free consultation.

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