- As of December 4, 2020, CEBA loans for eligible businesses will increase from $40,000 to $60,000.
- Applicants who have received the $40,000 CEBA loan may apply for the $20,000 expansion, which provides eligible businesses with an additional $20,000 in financing.
- All applicants have until March 31, 2021, to apply for $60,000 CEBA loan or the $20,000 expansion.
Program to Date:
Number of businesses approved for CEBA loans
795,104
Total funds approved for CEBA loans
$31.80 Billion
Last Week:
Number of businesses approved for CEBA loans
3,220
Total funds approved for CEBA loans
$129 Million
“CEBA summary data as of Dec. 3, 2020”
Program Overview
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.
For additional information please visit:
