Canada Emergency Business Account (CEBA)

This $55 billion 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.

You May Also like

Pay Less Tax

A great small business tax accountant does more than just measure value, they create it. At CPA4IT our goal is to save you substantially more than it costs you for our services. Over the last 30 years we have developed tax strategies designed to help you keep more of your hard earned money. If you would like to learn how we can help you pay less tax, simply download our FREE Guide to Pay Less Tax.

Book A Free Consultation

Got questions? We’ve got answers! Use the link below to book a time to chat with one of our experts.

Pay Less Tax

A great small business tax accountant does more than just measure value, they create it. At CPA4IT our goal is to save you substantially more than it costs you for our services. Over the last 30 years we have developed tax strategies designed to help you keep more of your hard earned money. If you would like to learn how we can help you pay less tax, simply download our FREE Guide to Pay Less Tax.