Canada Emergency Business Account (CEBA) Loan Deadline

Canada Emergency Business Account (CEBA) Reminder

• The repayment deadline for CEBA loans to qualify for partial loan forgiveness of up to 33% is January 18, 2024.
• For CEBA loan holders who make a refinancing application with the financial institution that provided their CEBA loan by January 18, 2024, the repayment deadline to qualify for partial loan forgiveness now includes a refinancing extension until March 28, 2024 if the required application is filed by January 18, 2024, in the manner required by your financial institution. Check with your financial institution for specific details.
• As of January 19, 2024, outstanding loans, including those that are captured by the refinancing extension, will convert to three-year term loans, subject to interest of 5% per annum, with the term loan repayment date extended by an additional year from December 31, 2025, to December 31, 2026 and will not be eligible for any loan forgiveness.
• For more details on the CEBA Loan repayment, please visit this website or contact your financial institution.