CANADA EMERGENCY BUSINESS ACCOUNT

Has your business been impacted by COVID-19? We are here to help!

Canada Emergecy Business Account (CEBA) provides interest-free loans of up to $40,000 to small businesses and not-for-profits. It is funded by the Government of Canada.

Program Details

  • Intended to support businesses by providing financial support to help cover their expenses that cannot be avoided as they take steps to safely navigate a period of shutdown
  •  Loans avaliable up to $40,000, interest free until December 31, 2022 (subject to avaliability of funding)
  • Up to $10,000 may be eligible for loan forgiveness (if at least 75% of the loan is paid by December 31, 2022)
  • As of October 26, 2020, eligibility for CEBA has expanded by removing the previous March 1, 2020 condition for having an active business chequing account   
  • As of October 26, 2020, eligible Canadian businesses that currently operate through a personal bank account will be able to apply for CEBA

Qualifications

Every applicant must meet the following criteria:

  • Has an active CRA Business Number with an effective date of registration on or prior to March 1, 2020
  • Has an active business chequing account at the time of applying for CEBA 
  • Has not previously used CEBA and will not apply for support from CEBA at any other Financial Institution 
  • Intends to continue to operate its business or to resume operations 

Use the government's CEBA Pre-screen Tool to see and confirm your elbigility.


For more information on the CEBA program you can visit the Federal Government's website.

Interested in applying?

One of our advisors would be happy to help.