CEBA requirements and deadlines have changed
- As of October 26, 2020, eligible Canadian businesses that are currently operating through a personal bank account will be able to apply for CEBA.
- All applicants now have until December 31, 2020, to apply for CEBA.
- *COMING SOON* CEBA support is being expanded from $40K to $60K. This expansion will be available to all eligible previous and new CEBA applicants. Stay tuned to the CEBA website for more details, including launch details in the coming weeks.
If you have already applied for CEBA and have questions, please contact the CEBA Call Centre at 1-888-324-4201. An agent will return your call within 3 business days between Monday and 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?
Program to Date
Number of businesses approved for CEBA loans:
Total funds approved for CEBA loans:
Originally launched on April 9, 2020, CEBA is intended to support businesses by providing financing for their expenses that cannot be avoided or deferred as they take steps to safely navigate a period of shutdown, thereby helping to position businesses for successful 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.
Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).
As of October 26, 2020, eligibility for CEBA has 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.
CEBA is available from more than 220 financial institutions across the country. Visit our complete list of financial institutions that currently offer CEBA.
All applications are administered through your financial institution. Please visit your financial institution’s website for more information or the FAQs.