Interest-free loans of up to $40,000 to eligible businesses.
Latest Update: On August 31st, the Government of Canada extended the application deadline from August 31st to October 31st, 2020.
The government is also working closely with financial institutions to make the CEBA program available to those with qualifying payroll or non-deferrable expenses that have so far been unable to apply due to not operating from a business banking account.
Further details on these changes will be released in coming days. Contact the new CEBA Call Centre at 1-888-324-4201 for a status update on your CEBA application, or if you have other questions.
What is the Canada Emergency Business Account (CEBA)?
CEBA supports businesses by providing financing for expenses that cannot be avoided or deferred when the business is shutdown during the pandemic. The aim is to help businesses successfully relaunch when the economy reopens.
This $55 billion program provides interest-free loans of up to $40,000 to small businesses and not-for-profits. If the balance of the loan is repaid on or before December 31st, 2022, businesses can receive loan forgiveness of 25 per cent—up to $10,000.
You must complete the CEBA application at your primary financial institution by latest October 31st, 2020.
Who is Eligible?
The program is for small businesses and not-for-profit organizations, including:
- Owner-operated small businesses that do not have a payroll
- Sole proprietors receiving business income directly
- Family-owned corporations remunerating in the form of dividends rather than payroll
Applicants with $20,000 or less in payroll in 2019 will need:
- A business operating account at a participating financial institution
- A Canada Revenue Agency business number
- A 2018 or 2019 tax return
- Eligible non-deferrable expenses of between $40,000 and $1.5 million
CEBA Call Centre
If you have already applied for CEBA and have questions, please contact the CEBA Call Centre at 1-888-324-4201 to receive a status update on your CEBA application. The CEBA call centre is open Monday to Friday from 8:00 am to 9:00 pm EST and can address the following types of questions:
- What is the status of my application?
- Why was my application declined?
- Why was my submitted document rejected?
- Apply through your financial institution
- You must have a business account opened before March 1st, 2020
- Eligible businesses will qualify for financing of up to $40,000, with 25 per cent of this being forgivable based on the current terms of CEBA loans
- The program was expanded on June 26th, 2020 to include more small businesses
- Businesses can contact their primary financial institution for more information or to apply directly for CEBA
- Businesses that don't meet the eligibility criteria for CEBA can apply for funding under Western Economic Diversification Canada’s Regional Relief and Recovery Fund (RRRF)
- Other Government of Canada COVID response programs can cause adjustments to the amount of 2020 non-deferrable expenses
- Each qualifying business is limited to one CEBA loan
- Application deadline: October 31st, 2020
- Canada Emergency Business Account (CEBA) FAQs
- CEBA Application FAQs
- CEBA Document Upload Instruction Guide (PDF)
- Non-Deferrable Expense Stream - Document Upload Instruction Guide
- Non-Deferrable Expense Stream - Document Upload FAQs
- Non-Deferrable Expense Stream - Document Upload Site
Frequently Asked Questions About CEBA
Who can I contact to ask about my application?
Contact your primary financial institution for more information or to apply directly for CEBA.
What if my application is denied?
Businesses that don't meet the eligibility criteria for CEBA can apply for funding under Western Economic Diversification Canada’s Regional Relief and Recovery Fund (RRRF).