Updated October 16, 2026
If your CEBA loan is with TD Bank, the full balance is due on December 31, 2026. Interest has been charged at 5% a year since January 19, 2024, and forgiveness is no longer available. Here is how to pay it off, and what to do if you can’t.
Step 1: Get your exact payoff amount
Your balance is shown in TD business online banking. Because interest accrues daily, ask TD for a payoff amount as of the date you plan to pay, through your branch or the business banking number on your loan statement.
Step 2: Pay it off
- TD’s CEBA loan agreement allows you to repay all or part of the loan at any time without penalty.
- You can pay from your TD business account, or bring funds from another lender or account.
- Pay a few business days before December 31 so the payment posts in time, and keep the confirmation.
- Ask TD for written confirmation that the loan is paid in full and closed.
Step 3: If you can’t pay the full amount
- Ask TD about a business loan or line of credit to pay off CEBA. Approval can take weeks, so ask now.
- Compare online lenders if TD says no or is too slow. Many can fund within days. Compare CEBA refinancing lenders.
- Pay down what you can. A smaller balance is easier to refinance and leaves less for collection.
What happens if a TD CEBA loan isn’t repaid
TD will ask for the full balance. If it is still unpaid, the loan is likely to be assigned to the CEBA Program, and from then on you deal with the CEBA Program and the CRA instead of TD. The CRA may offer a payment arrangement, but interest continues. See CRA collections: default or refinance?
Other banks: RBC, BMO, CIBC, Scotiabank, Desjardins.
Next step
If your business is still operating, refinancing replaces the December 31 lump sum with regular payments. Compare lenders that refinance CEBA loans, or use the repayment calculator to size the payment.
This article is general information, not legal, tax or financial advice. 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 been assigned to the CEBA Program, the CRA CEBA Contact Centre is at 1-800-361-2808.