Updated October 16, 2026
Childcare centres and home daycares used CEBA to keep staff and space through closures. If your centre still has a balance, it is due December 31, 2026. Since then, the way most centres are paid has changed, and that affects how lenders see you.
Where your CEBA loan stands in 2026
- The full balance is due December 31, 2026. There is no further extension.
- Interest has been charged at 5% a year since January 19, 2024. Forgiveness ended in 2024 and those deadlines are final.
- Unpaid loans are likely to be assigned to the CEBA Program for collection, with the Canada Revenue Agency (CRA) assisting. Closing the business does not cancel the debt.
What lenders look at in your industry
- Funding agreements. Many centres now receive operating funding under the Canada-wide early learning and child care agreements, with lower parent fees. Lenders want to see that funding is stable and paid on time.
- For-profit versus non-profit. Online lenders generally lend only to for-profit businesses. Non-profit centres usually need to talk to a credit union, their bank or their funder.
- Enrolment and waitlists. Full enrolment and a waitlist show revenue is secure.
- Licence and lease. A current provincial licence and a long lease help.
Refinancing options that tend to fit
For-profit centres with steady funding and fees can often get a 12 to 24 month term loan. Check first whether your funding agreement restricts new borrowing or how funding can be used to repay debt. Non-profit centres should speak to their credit union and, if the loan cannot be repaid, contact the CRA early once it is assigned to arrange a payment plan.
Typical lender minimums
Most online lenders that refinance CEBA balances look for at least 6 months in business and roughly $10,000 a month in revenue. Some also want a credit score of 550 to 600 or higher, and some lend only to incorporated businesses. Banks and credit unions usually want a longer track record and stronger credit, but can offer lower rates. Compare lenders that refinance CEBA loans to see which ones fit your numbers.
What to have ready
- Your current CEBA balance and the bank or credit union that holds it
- 3 to 6 months of business bank statements
- Your business number, incorporation documents (if incorporated) and time in business
- Your childcare licence and funding agreement
- Enrolment numbers for the past 6 months
Next step
Applying in October or November leaves time for approval and funding before December 31. Compare CEBA refinancing options, use the repayment calculator to size the payment, or read what happens if your loan goes to CRA collections.
ceba.ca is an independent website and is not affiliated with the Government of Canada. Official program information is at ceba-cuec.ca. If your loan has already been assigned to the CEBA Program, the CRA CEBA Contact Centre is at 1-800-361-2808.