Canada Emergency Business Account (CEBA)

Interest-free loans of up to $60,000 to help cover operating costs during a period where revenues have been temporarily reduced due to the COVID-19 pandemic, available through most financial institutions.

Last updated on December 15, 2020

Looking for different financing options? See all COVID-19 programs

IS THIS THE RIGHT FINANCING FOR MY BUSINESS?

For small businesses and not-for-profits that continue to be seriously impacted by the pandemic

Access an interest-free loan of up to $20,000 in addition to the original CEBA loan of $40,000. This Program is meant to help you pay non-deferrable operating expenses and quickly return to providing services to your community and create employment – extended until March 31, 2021

Up to $20,000 loan forgiveness

By repaying $40,000 from your total $60,000 loan on or before December 31, 2022, will result in loan forgiveness of 33 percent (up to $20,000).

Flexible terms

If the loan cannot be repaid by December 31, 2022, it can be converted into a 3-year term loan with an interest rate of 5%.

Repay at your pace

Principal payments can be made at your pace, without fees or penalties, by December 31, 2022.

Fast and easy

Applying is fast and easy. Contact your primary financial institution today.

For more details on the Canada Emergency Business Account, visit the Government of Canada’s website

Is my business eligible?

Below are some of the eligibility criteria

Your business is Canadian-based and in operation as of March 1, 2020
The business’s 2019 payroll was between $20,000 and $1.5 million
The loan is used to continue or resume operations
You have not previously used the program and will not apply for it at a different financial institution
The business has a federal tax registration
Visit the Government of Canada’s website for the complete list

HOW DO I APPLY?

Contact your primary financial institution to apply

Looking for a different financing solution for your business? See how BDC can help

Frequently asked questions

Here are some answers to questions you may have on the Canada Emergency Business Account

How can I use the funds from the Canada Emergency Business Account (CEBA) program?

The funds are meant to pay non-deferrable operating expenses such as payroll, rent, utilities, insurance, property tax and regularly scheduled debt service.

Why can’t I apply for the CEBA program with BDC?

This program is put in place by the Government of Canada and has been implemented by eligible financial institutions in cooperation with Export Development Canada (EDC).

Which financial institutions are participating in the CEBA program?

There are approximately 220 financial institutions participating in the CEBA program. The complete list can be found here.

Which other relief program can help my business?

A number of measures, in addition to access to credit, have been put in place through the Government of Canada’s Economic Response Plan to help you through these trying times. We invite you to consult these pages to find out what measure best fits your needs.