Updated October 16, 2026
Professional practices, such as dental, medical, legal, accounting, engineering and consulting firms, used CEBA to cover payroll and rent when work slowed. If your practice still owes a balance, it is due December 31, 2026. Professional practices are usually among the easiest businesses to refinance.
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
- Recurring client revenue. Billings from established clients or patients are seen as stable.
- Receivables. Long collection times (insurer payments, client invoices) affect cash flow, so lenders look at how quickly you get paid.
- Professional licence and credentials. Banks have dedicated programs for licensed professionals.
- Personal credit of the principals. Strong personal credit opens the cheapest options.
Refinancing options that tend to fit
Start with your bank’s professional banking team: practices with steady billings and good credit often qualify for a term loan or line of credit at rates well below online lenders. If the bank is slow or says no, an online term loan can close in days. A line of credit you can draw on at year end is often the cheapest way to pay off a smaller CEBA balance.
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
- Recent financial statements or T2/T1 returns
- An aged receivables report
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.