COVID CEBA Update

Important CEBA Update for Businesses

As of June 30, 2021, applications for the $60,000 CEBA and the $20,000 CEBA expansion have closed.



Upcoming CEBA Program Deadlines

  • For Existing Non-Deferrable Expense Applicants: The initial document submission deadline is July 14, 2021
  • The document resubmission deadline is September 3, 2021
For $20,000 Expansion Applicants Required to Submit Additional Information Related to Their Business Number:
  • The deadline to submit additional information related to your business number is August 20, 2021
For $20,000 Expansion Applicants Required to Requalify Under the Non-Deferrable Expense Stream:
  • The initial document submission deadline is September 16, 2021
  • The document resubmission deadline is October 17, 2021


CEBA Program Overview

The CEBA program provides interest-free loans of up to $60,000 to small businesses and not-for-profits.

Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 33 percent (up to $20,000).

As of October 26, 2020, eligibility for CEBA expanded by removing the previous March 1, 2020 condition for having an active business chequing/operating account. With this removal, eligible businesses can now apply after opening a business chequing/operating account with their primary financial institution. For more information about this new criteria or other criteria established since the launch of CEBA we recommend you visit the FAQs below.

As of December 4, 2020 approved CEBA applicants can now receive a $60,000 loan. CEBA applicants who have received the $40,000 CEBA loan may apply the CEBA expansion, which provides eligible businesses with an additional $20,000 of financing.

CEBA is available from more than 220 financial institutions across the country. The FAQ section below offers a complete list of financial institutions that currently offer CEBA.

For more program details, visit the Government of Canada website https://ceba-cuec.ca/
 

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