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The Canada Emergency Business Account (CEBA) is an initiative of the Government of Canada.  The official Government website is

CEBA Loan in Mirabel

CEBA Loan in Mirabel

The CEBA loan in Mirabel offers businesses a lifeline in these challenging times. With the support from the government-backed CEBA loan, enterprises in Mirabel can navigate through financial adversity. The CEBA loan in Mirabel is a testament to our commitment towards supporting local businesses, ensuring their survival and growth amidst economic uncertainties.

So, what does the CEBA loan in Mirabel entail, and how does it benefit businesses in Mirabel? Let’s find out!

CEBA Loan in Mirabel

The CEBA loan in Mirabel allows businesses to acquire up to $60,000 as an interest-free loan. This significant amount aids small businesses in Mirabel to manage fundamental operating expenses such as employee salaries, leasing costs, utility bills, and insurance premiums.

Furthermore, the CEBA loan in Mirabel doesn’t necessitate immediate repayment but rather allows for scheduled payments over a defined period. This beneficial aspect enables small Mirabel businesses to alleviate their monetary stresses, particularly during these times of uncertainty.

The CEBA loan in Mirabel initiative first took flight on April 9, 2020, during the financial crisis triggered by COVID-19. The primary goal was to extend financial support to businesses struggling with considerable financial insecurity in Mirabel and across the country.

CEBA Loan in Mirabel: Eligibility Criteria

Understanding the eligibility criteria for the CEBA loan in Mirabel is crucial for businesses seeking financial assistance through this program. There are two main streams businesses in Mirabel need to consider: the Payroll Stream and the Non-Deferrable Expense Stream.

Let’s first dive into the Payroll Stream. To qualify for the CEBA Loan in Mirabel under this stream, the business must have registered a total payroll of a minimum of $20,000 and up to a maximum of $1.5 million in 2019. This payroll requirement is critical for eligibility, and having a clear record of employment income paid throughout the calendar year is a testament to the business’s commitment to its employees and its dedication to maintaining accurate records in the face of economic fluctuations.

On the other hand, the Non-Deferrable Expense Stream is designed for those businesses in Mirabel without payroll. To be eligible for the CEBA loan in this stream, businesses must have incurred non-deferrable expenses ranging from $40,000 to $1.5 million throughout 2020. Non-deferrable expenses are costs that simply cannot be put on hold. 

These include rent, utilities, insurance, and payroll-related obligations. By providing funds to cover these costs, the CEBA loan in Mirabel ensures that businesses can continue to manage their essential operations during the pandemic, thus paving the way for their long-term success.

So, whether your business falls under the Payroll Stream or the Non-Deferrable Expense Stream, the CEBA loan in Mirabel stands as a vital financial lifeline.

Current CEBA Loan Expansion: What it Means for Businesses in Mirabel

The CEBA loan policy underwent a significant transformation on September 14, 2023, resulting in vital changes for businesses in Mirabel. Canada’s Prime Minister announced a series of policy enhancements. Mirabel businesses now have until January 18, 2024, to qualify for partial loan forgiveness, extending beyond the former December 31, 2023 cutoff. This change amplifies CEBA loan holders’ flexibility in Mirabel, granting them more time to manage their financial obligations.

Under this new policy, the criteria for businesses in Mirabel trying to qualify for up to 33 percent loan forgiveness has been simplified. Mirabel businesses seeking to refinance must register via their respective financial institutions. The extended deadline for partial loan forgiveness applications, now January 18, 2024, allows Mirabel’s businesses to secure a refinancing extension until March 28, 2024.

These extended deadlines come with an incentive—early repayment could lead to partial loan forgiveness. If businesses in Mirabel repay the CEBA loans on or before these revised deadlines, they could qualify for partial loan forgiveness. This translates to a significant reduction of $10,000 on a $40,000 loan and $20,000 on a $60,000 loan, significantly easing the financial stress on Mirabel businesses.

However, there are significant provisions for Mirabel businesses that miss the January 18, 2024, loan forgiveness repayment deadline. Starting January 19, 2024, any remaining balance of the CEBA loan in Mirabel will transition into a three-year term loan. Notably, this conversion terminates the zero-interest benefit, introducing a 5% annual interest rate charged on the outstanding CEBA loan balance for Mirabel businesses. 

Moreover, the final date for complete repayment has been extended by a year, from December 31, 2025, to December 31, 2026, giving Mirabel businesses one year to fulfil their financial obligations.

Though the 5% annual interest introduces an additional cost, these adjustments reinforce the Canadian government’s commitment to flexible and supportive loan terms. These measures recognize the challenging economic landscape businesses, such as those in Mirabel, are currently navigating.


This was a comprehensive look into the CEBA loan in Mirabel, its eligibility criteria, and recent expansions to the program. The CEBA loan is an integral part of Canada’s economic recovery plan, providing much-needed financial assistance to businesses in Mirabel facing adversity during these uncertain times. 

You can visit the CEBA website or contact your financial institution to learn more about the program and how it can benefit your Mirabel business. 

Also, stay updated on changes and deadlines to take full advantage of the program’s benefits if you run a business in Mirabel.

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