If your CEBA loan is with this financial institution, the full balance is due on December 31, 2026. Here is how to repay it, and what to do if you can't.
Rating: 3 out of 5
The Refinance Meter shows how likely you are to get a loan from this financial institution to repay your CEBA balance. It assumes you don't have the cash to repay the loan yourself. A lower rating means you should compare other lenders too.
How to repay this lender's CEBA loan: The repayment deadline for CEBA loans to qualify for partial loan forgiveness is December 31, 2023, for all eligible borrowers in good standing. Outstanding loans will subsequently convert to two-year term loans with interest of 5 per cent per year commencing on January 1, 2024, with the loan fully due by December 31, 2025. Please refer to the CEBA website for more details about loan forgiveness and the repayment terms based on the amount of your loan. You can repay the outstanding balance of your loan anytime on or before December 31, 2023 and be eligible for a portion of forgiveness. Please speak with your Relationship Manager for help determining a repayment strategy that works best for your business.
Compare lenders that refinance CEBA balances by rate, term and funding speed before the December 31, 2026 deadline. Comparing is free.
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