If you operate your business out of a personal account, you will be required to open a business account in order to be eligible.
Before going through the trouble of opening up a business account, we want you to have some comfort that you’re likely to be approved under the program. To determine your eligibility and the validity of your non-deferrable expenses, please complete the CEBA Pre-Screen tool here.
How does CEBA work?
- The Canada Emergency Business Account will be funded as a term loan for an amount up to $60,000 for new applicants and an additional $20,000 for existing recipients.
- No interest will apply on the loan until January 1, 2023
- Beginning January 1, 2023, interest accrues on the balance of the term loan at the rate of 5% per annum, payable monthly on the last day of each month
- If you repay enough of your term loan to meet the repayment requirements for receiving forgiveness on or before December 31, 2022, the remaining balance of your term loan will be forgiven.
- If you do not repay enough of your term loan to meet the requirements for receiving forgiveness on or before December 31, 2022, any outstanding balance will be converted into a 3-year term loan at 5% maturing on December 31, 2025, at which time the balance must be paid in full
APPLY for CEBA
How can I view the status of my CEBA application?
Visit status-statut.ceba-cuec.ca anytime to view the status of your CEBA application. You’ll need:
- The name of the financial institution through which you applied for CEBA
- Your 9-digit CRA business number
- The applicable T1, T2, T2 Short, or T4 summary used in your application.
You can also call the CEBA Call Centre at 1.888.324.4201 (Monday – Friday, 9am – 8pm CST) to talk to someone about the status of your application, why your application was declined or why submitted documents were rejected.
Where can I find more information?
For more information about eligibility or applying, visit ceba-cuec.ca.