Your CEBA loan is due in full on December 31, 2026. If you cannot pay it in cash, these are the online lenders most often used to refinance a CEBA balance, compared on the numbers they publish. Figures were checked in October 2026 from each lender’s website and independent comparison sites; lenders change their terms, so confirm before you apply.
| Driven | Journey Capital | Merchant Growth | |
|---|---|---|---|
| Products | Business loan drawn against a pre-approved limit | Term loans, lines of credit and Flex Funds advances | Term loans, merchant cash advances and lines of credit |
| Amounts | $10,000 to $500,000 | About $10,000 to $500,000; lines of credit up to $300,000 | $5,000 to $800,000; lines of credit up to $125,000 |
| Terms | 3 to 24 months | 6 to 24 months for term loans | 6 to 24 months |
| Repayment | Daily or weekly | Varies by product; Flex Funds repaid as revenue comes in | Daily or weekly for loans; monthly for lines of credit |
| Published rates | Not published | About 8% to 35%, depending on product | 12.99% to 39.99% |
| Funding speed | As little as 24 hours | As little as 24 hours | As little as 6 hours after approval |
| Typical minimums | 6 months in business, $120,000 annual revenue, 600+ credit score | 6 months in business, $120,000 annual revenue, credit score of 550 to 650 depending on product; incorporated in Canada | 6 months in business, $10,000 monthly revenue, credit score of about 550 recommended |
Rates for Journey Capital and Merchant Growth are ranges reported by independent comparison sites. Your actual cost depends on your revenue, credit and time in business. ceba.ca may receive a referral fee from a lender if you obtain financing through it.
Driven
Driven gives you a pre-approved limit and lets you draw what you need, with each draw on its own fixed term from 3 to 24 months. It says applying will not affect your credit score, funds can arrive in as little as 24 hours, and you can pay early to save on interest. It does not publish rates, so compare its total cost against your other offers.
Good fit if: you have at least six months of history and steady revenue, and you want to borrow only the exact amount of your CEBA payoff.
Journey Capital
Journey Capital, formerly OnDeck Canada, offers term loans, lines of credit and Flex Funds advances that are repaid as revenue comes in. Independent listings put its term loans at about $10,000 to $500,000 over 6 to 24 months, with funding in as little as 24 hours. Finder lists incorporation in Canada as a requirement, so sole proprietors should check first.
Good fit if: you are an incorporated business with at least $120,000 in annual revenue and want a choice between a term loan and a line of credit.
Merchant Growth
Merchant Growth offers the widest range of amounts, from $5,000 to $800,000, through term loans and merchant cash advances, plus lines of credit up to $125,000. It looks at monthly revenue (about $10,000 minimum) and says credit is only one factor. It can fund the fastest of the three, but the top of its published rate range is also the highest.
Good fit if: your credit is less than perfect, or you need funds very quickly before the deadline.
How to choose
- Compare total cost, not just the rate. Ask each lender for the total amount you will repay, including fees. For merchant cash advances, cost is set by a factor rate; the repayment calculator shows what that means in dollars.
- Match repayments to your cash flow. Daily or weekly payments suit businesses with steady daily sales; monthly payments suit businesses paid by invoice.
- Check prepayment terms. Some products cost the same whether you repay early or not.
- Leave time. Apply in November so the CEBA payoff clears before December 31, 2026. Get your exact payoff amount first: how to get your CEBA payoff statement.
Other options to compare
- Your own bank or credit union. Established businesses with good credit may get a lower rate, but approval can take longer. See the bank-by-bank guides.
- Paying part in cash. Borrowing less lowers your cost and makes approval easier.
- If you cannot qualify, read what happens to your CEBA loan on January 1, 2027 and CEBA payment plans with the CRA.
Sources
- Driven, small business loans
- Finder, Journey Capital review and Loans Canada, Journey Capital
- Finder, Merchant Growth review
This article is general information, not financial or legal advice. ceba.ca is an independent website and is not affiliated with the Government of Canada or any financial institution.