Information about the Canada Emergency Business Account

Learn more about the government’s Canada Emergency Business Account – including important repayment info

Updated: June 30, 2021   4 min read

Did your small or not-for-profit business apply for the Canada Emergency Business Account (CEBA) loan by the June 30, 2021 deadline? Then next on your list is a repayment plan. Here’s what you need to know.



1. What is CEBA?

Here are the main details:

  • The program offers a loan of $60,000 interest-free until December 31, 2022
  • The purpose of the loan is to help you pay for operating costs that you’re not able to defer as a result of COVID-19
  • You are not required to make principal payments until December 31, 2022
  • Repaying $40,000 of the loan principal on or before December 31, 2022 will result in loan forgiveness of the remaining $20,000

2. When do I have to repay my CEBA loan?

If you have not repaid the loan by December 31, 2022, the remaining balance will be converted to a 3-year term loan with an annual interest rate of 5% per annum, effective January 1, 2023. You must repay the full balance no later than December 31, 2025.

3. I have applied for CEBA. How can I inquire about the status of my application?

If you have already applied for CEBA:

  • You can check the status of your CEBA loan application online at& Please wait 5-7 business days after submitting your application before checking the status.
  • You may contact the CEBA Call Centre at 1-888-324-4201. You will be asked to leave a call back number. An agent will return your call between Monday and Friday from 7:00am-6:00pm PST 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?

Be sure to have your CRA business number on hand. The CEBA Call Centre is experiencing significant call volumes. As a result, a return call may take up to seven business days. 

4. Where can I learn more about CEBA, including document submission & payment deadlines?

Check our the Goverment of Canada's CEBA info page for full details.

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