Canada Emergency Business Account Loan Program Opens for Applications

What is the Canada Emergency Business Account (CEBA)?

The Canada Emergency Business Account (CEBA) supports businesses by providing financing for expenses that cannot be avoided or deferred when the business is shutdown during the pandemic. The aim is to help businesses successfully relaunch when the economy reopens.

This $55 billion program provides interest-free loans of up to $40,000 to small businesses and not-for-profits. If the balance of the loan is repaid on or before December 31st, 2022, businesses can receive loan forgiveness of 25 per cent—up to $10,000.

You must complete the CEBA application at your primary financial institution by latest December 31st, 2020.

Who is Eligible?

The program is for small businesses and not-for-profit organizations, including:

  • Owner-operated small businesses that do not have a payroll
  • Sole proprietors receiving business income directly
  • Family-owned corporations remunerating in the form of dividends rather than payroll

The CEBA pre-screen tool is a quick tool for you to see if you may be eligible for CEBA. Visit the CEBA website for full eligibility requirements.

CEBA Call Centre

If you have already applied for CEBA and have questions, please contact the CEBA Call Centre at 1-888-324-4201 to receive a status update on your CEBA application. An agent will return your call within three business days. The CEBA call centre is open Monday to Friday from 10:00 am to 9:00 pm EST and can address the following types of questions:

  • What is the status of my application?
  • Why was my application declined?
  • Why was my submitted document rejected?

Key Facts

  • Apply through your financial institution
  • Eligible businesses will qualify for financing of up to $40,000, with 25 per cent of this being forgivable based on the current terms of CEBA loans
  • Businesses that don’t meet the eligibility criteria for CEBA can apply for funding under Western Economic Diversification Canada’s Regional Relief and Recovery Fund (RRRF)
  • Other Government of Canada COVID response programs can cause adjustments to the amount of 2020 non-deferrable expenses
  • Each qualifying business is limited to one CEBA loan

Important Dates

    • Application deadline: December 31st, 2020. 

Find Out More

Small Business BC has recently launched the B.C. Business COVID-19 Support Service to host all COVID-19 content and resources in one area. You’ll be able to talk to an advisor via live chat, or speak to them over the phone.

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