Canada Emergency Business Account (CEBA) Extension
On January 12, the government announced that the repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended from December 31, 2022, to December 31, 2023, for all eligible borrowers in good standing. Learn more.
Please be advised that Export Development Corporation and Credit Union Central are working on process to assist those businesses whose application are in a remediation process due to errors in original submission. Integris staff will contact those businesses once the process has been determined.
Current deadlines for those remediations are as follows:
For Existing Non-Deferrable Expense Applicants:
- The initial document submission deadline is July 14, 2021
- The document resubmission deadline is September 3, 2021
For $20,000 Expansion Applicants Required to Submit Additional Information Related to Their Business Number:
- The deadline to submit additional information related to your business number is August 20, 2021
For $20,000 Expansion Applicants Required to Requalify Under the Non-Deferrable Expense Stream:
- The initial document submission deadline is September 16, 2021
- The document resubmission deadline is October 17, 2021
For additional information and FAQ regarding the CEBA program visit the Government of Canada CEBA.
Program Details (As of January 12/2022)
Repayment Terms
The following terms apply to all CEBA loans (original and expansion)
- Interest:
- 0% per annum until December 31, 2023 for all eligible borrowers in good standing
- 5% per annum interest starting on January 1, 2024
- Repayment and Maturity:
- No principal repayment required before December 31, 2023
- If loan remains outstanding after December 31, 2023, only interest payments required until full principal is due on December 31, 2025
Debt Forgiveness
Repaying the outstanding balance of the loan (other than the amount available to be forgiven) on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).
We will send reminder emails to all CEBA recipients to remind you of the various repayment dates.
Application Support
For additional information regarding the CEBA program visit the Government of Canada CEBA program website – https://ceba-cuec.ca