Act Now.  March 28 is the last day for $10k to $20k of government loan  forgiveness

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

Bank of Montreal (BMO)

BMO
CEBA Refinancing Good Meter

The Refinace Meter shows how likely you are to receive a loan from this financial institution.  It assumes that you don’t have the money to repay the loan and have an average credit score.

If you don't have the funds to repay the CEBA loan by January 18,2024, to qualify for the loan forgiveness, Bank of Montreal (BMO) will consider extending a business loan to customers that meet their credit criteria.

How to Repay

Clients can make payments to their CEBA loans in Online Banking (OLB) and Online Banking for Business (OLBB). To make a payment, a client can use the bill payment feature in OLB and OLBB. Alternatively, clients can contact their local branch or Relationship Manager to make a payment.

To repay using BMO Online Banking:

  1. In BMO Online Banking, select the Payments & Transfer tab
  2. Click Make a Transfer
  3. Choose your From Account
  4. Under To Account, select the CEBA loan you want to repay
  5. Enter the amount you want to transfer
  6. Choose when you want to make the payment
  7. Once you’re ready, click Verify Transfer
  8. Review your payment details. If you’re satisfied, select Complete Transfer

To repay using BMO Online Banking for Business:

  1. In Online Banking for Business, select the Payments & Receivables tab.
  2. Under Account Transfer, click Create Transfer.
  3. Choose your From Account.
  4. Under To Account, select the CEBA loan you want to repay.
  5. Enter the amount and currency you want to transfer.
  6. Choose when you want to make the payment. Note: payments that require a conversion can’t be scheduled and will be processed immediately after the final approval.
  7. Once you’re ready, click Continue. 8. Review your payment details. If you’re satisfied, select Complete.

Note: Once you have successfully created your payment and it’s fully approved, we will process it on your chosen date. Your payment may take up to 3 business days to appear in your CEBA account.

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