OCTOBER 9, 2020 UPDATE: The Government of Canada announced an expanded Canada Emergency Business Account (CEBA) program which includes additional funding and an extension to the application deadline date. We are committed to keeping you informed and will provide further details, including the launch date and application process, as they become available.
The Canada Emergency Business Account (CEBA) is a $40,000 limited-time, interest-free loan for your business until December 31, 2022. A quarter of this loan (up to $10,000) is eligible for complete forgiveness and requires no minimum monthly payments until December 31, 2022.
Who is eligible for the Canada Emergency Business Account?
In 2019, was your business payroll between $20,000 to $1.5 million? Your business may be eligible.
In 2019, was your business payroll $0 to $20,000 and your 2020 business expenses between $40,000 to $1.5 million? Your business may be eligible.
If your business payroll in 2019 was $1.5 million or more, you do not qualify for CEBA. We may have other options available to you. Refer to Financial Relief for Business for more information.
Visit our FAQs for more information on the Canada Emergency Business Account, as well as other frequently asked questions.