Updated October 16, 2026
Restaurants and cafés took on more CEBA debt than almost any other sector, and many are still repaying it. The full balance is due December 31, 2026, at the same time as one of the busiest and most cash-hungry months of the year. Here is how restaurant owners are handling it.
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
- Monthly sales. Lenders read your card and POS deposits closely. Steady or growing sales matter more than profit.
- Thin margins. Food and labour costs leave little room for a large new payment, so lenders check that the new payment fits your cash flow.
- Other debt. Existing advances, equipment leases and tax arrears (HST, payroll remittances) all count against you.
- Time at the location. A long lease and a stable location help.
Refinancing options that tend to fit
Most restaurants refinance with a 12 to 24 month term loan or a revenue-based advance repaid from daily card sales. The advance flexes with slow weeks but usually costs more. If you are already behind on HST or source deductions, deal with those first: lenders will see them, and the CRA can freeze accounts for unpaid remittances. Avoid stacking several short-term advances to cover one 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
- POS or payment processor statements
- Proof that HST and payroll remittances are current
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.