Interest-free loans of up to $40,000 to eligible businesses.
Latest Update - October 26th, 2020: The Government of Canada announced the Canada Emergency Business Account (CEBA) is now available to businesses that have been operating using a personal banking account.
October 9th Update: On October 9th, the Government of Canada announced the deadline for CEBA applications is extended to December 31st, 2020. They also announced an expanded Canada Emergency Business Account (CEBA), which would enable businesses, and not-for-profits eligible for CEBA loans—and that continue to be seriously impacted by the pandemic—to access an interest-free loan of up to $20,000, in addition to the original CEBA loan of $40,000. Half of this additional financing would be forgivable if repaid by December 31, 2022.
Further details on this program expansion will be released in coming days.
What is the Canada Emergency Business Account (CEBA)?
The Canada Emergency Business Account (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 December 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
The CEBA pre-screen tool is a quick tool for you to see if you may be eligible for CEBA. Visit the CEBA website for full eligibility requirements.
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. An agent will return your call within three business days. The CEBA call centre is open Monday to Friday from 10:00 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
- 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
- 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: December 31st, 2020.
- Canada Emergency Business Account (CEBA) FAQs
- CEBA Application FAQs
- Non-Deferrable Expense Stream - 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
- CEBA Pre-Screen Tool
- CEBA Pre-Screen Tool Instruction Guide
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).