Non-incorporated, self-employed individuals will soon be able to apply for the Canada Emergency Business Account (CEBA), the federal government announced on Tuesday.

CEBA offers interest-free, partially forgivable loans of up to $40,000 for qualifying businesses. Previously, the program was available only to businesses with payrolls between $20,000 and $1.5 million.  CEBA will now be available to sole proprietors, businesses that rely on contractors and family-owned corporations that pay employees through dividends, according to a government release.

Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).

Eligible businesses must have a business operating account at a financial institution and a Canada Revenue Agency business number, and must have filed taxes in 2018 or 2019. They also must have eligible non-deferrable expenses ranging from $40,000 to $1.5 million.

The launch date for applications under the new eligibility criteria “will follow in the days to come,” the government said.