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, FirstOntario Credit Union will consider extending a business loan to customers that meet their credit criteria.
If you do not qualify for financing and still would like to take advantage of the loan forgiveness of up to $20,000, click here to understand your options.
The forgiveness repayment date has been extended to December 31, 2023 for eligible CEBA loan holders in good standing. Applicants who qualified for the new extended term have been contacted with details regarding the new repayment date. For outstanding loans that have not had their forgiveness repayment made on or before December 31, 2023, principal will automatically convert into a two-year term loan charging an interest rate of 5%.