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  • Ryan Rawluk, CPA, CGA

Time to Repay your CEBA Loan

The CEBA (Canada Emergency Business Account) program offered interest-free loans of up to $60,000 to small businesses and non-for-profits. For eligible CEBA loan holders in good standing, repaying the balance of the loan on or before January 18, 2024 will result in loan forgiveness of $10,000 or $20,000.

To repay your loan, repay the outstanding principal, other than the amount of the potential debt forgiveness, by January 18, 2024 and the remaining principal amount will be forgiven.

If your loan remains outstanding on January 19, 2024, it will convert to a non-amortizing term loan at 5% interest with full principal repayment due on December 31, 2026.

If a refinancing loan application is submitted to the financial institution that provided the CEBA loan by January 18, 2024 but require a grace period in order to finalize the payout of the CEBA loan, you can still qualify for partial loan forgiveness in the outstanding principal of your CEBA loan, other than the amount of the potential debt forgiveness, plus any applicable interest is repaid by March 28, 2024.

If you have questions about your CEBA loan repayment, we can help. Contact our office at 204-237-6053 or

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