Canada Emergency Business Account (CEBA) Available Through Luminus Financial

We are glad to announce that Luminus Financial has been approved to implement the Canada Emergency Business Account (CEBA) for eligible small businesses whose revenues have been temporarily reduced due to the economic impacts of the COVID-19 virus.

The Government of Canada recently announced the CEBA to help deliver much-needed financial relief by providing eligible businesses and not-for-profits with access to interest-free loans of up to $40,000. This financial relief can be used to keep Canadians employed and cover operational expenses such as rent, payroll and insurances to enable business continuity.

We understand that the CEBA is critical to the ongoing operation of many small businesses and are working as quickly as possible to get you access to this financial relief. This government-led program will roll out in mid-April and applications will be available through Luminus Financial before the end of the month.

Is my business eligible?

  • All businesses with payroll between $20,000 and $1.5 million in 2019 will qualify for the $40,000 interest-free loan backed by the Government of Canada, with only three-quarters of principle repayable by the end of 2022.
  • You are a business member of Luminus Financial as of March 1, 2020.
  • You are not participating in the CEBA with another financial institution.

How will the CEBA work?

  • The CEBA is a loan of up to $40,000 to help eligible businesses pay for operating expenses, payroll, and other non-deferrable expenses critical to business continuity.
  • Until December 31, 2020, the CEBA will be funded as a revolving line of credit.
  • No interest applies until January 1, 2023.
  • After December 31, 2020, any outstanding balance will be converted into a 5-year term loan maturing December 31, 2025, at which time the balance must be paid in full.
  • As of January 1, 2023, interest accrues on the balance of the term loan at the rate of 5% per annum, payable monthly.
  • If you repay 75% of the loan balance (as at January 1, 2021) on or before December 31, 2022, the remaining balance (up to $10,000) will be forgiven.
  • If you do not repay 75% of the loan balance (as at January 1, 2021) on or before December 31, 2022, the full loan balance and all accrued and unpaid interest will be due and payable on December 31, 2025.
  • Further rules and restrictions may apply as the Government of Canada provides more information, please speak with a Luminus Financial representative for more details.

If you’re interested in learning more or to state your interest in applying for the CEBA, please email us at

For more information on the CEBA, please see Canada’s COVID-19 Economic Response Plan.


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