Updated October 16, 2026
Non-profits and charities were eligible for CEBA, and many still carry a balance. It is due December 31, 2026. Refinancing works differently for non-profits: most online lenders that refinance CEBA loans lend only to for-profit businesses, so your options are narrower and you should start early.
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
- Stable funding. Multi-year grants, contracts and membership revenue matter more than donations, which can vary.
- Board approval. Most lenders, and your own bylaws, will require a board resolution to borrow.
- Reserves. Unrestricted reserves you could use to repay part of the balance strengthen any application.
- Restricted funds. Lenders know grant money tied to programs cannot be used to repay debt.
Refinancing options that tend to fit
Realistic options are: repaying from unrestricted reserves, a loan or line of credit from your credit union or bank (credit unions often have non-profit programs), or a bridge from a foundation or community lender. If none of these work, the loan will likely be assigned to the CEBA Program; contact the CRA as soon as that happens to discuss a payment arrangement based on your ability to pay.
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 institution that holds it
- Recent financial statements and the current year’s budget
- A board resolution authorizing the borrowing
- Details of multi-year grants or contracts
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.