Updated October 16, 2026
Private schools, tutoring centres, driving schools, language schools and training providers used CEBA when classes moved online or stopped. If you still owe a balance, it is due December 31, 2026.
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
- Tuition cycles. Revenue often arrives in large payments at the start of a term. Lenders want statements that show a full cycle, not just a peak month.
- Enrolment trends. Stable or rising enrolment is the strongest signal.
- Prepaid tuition. Lenders know some of that cash is owed back as services, so they look at earned revenue.
- Structure. Non-profit schools generally cannot use online lenders and should go to a credit union or bank.
Refinancing options that tend to fit
A term loan with fixed monthly payments lets you plan around tuition cycles. If you collect most tuition in September and January, consider repaying part of the CEBA balance from that cash and refinancing only the rest. Banks and credit unions are often the best fit for established schools.
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
- Enrolment numbers and the tuition schedule
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.