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

Can I Still Apply for CEBA in 2023? An Expert Guide

Can I Still Apply for CEBA in 2023?
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The world of business finance has been shaken by the COVID-19 pandemic, and so has the Canada Emergency Business Account (CEBA) program. As a business owner, you may be wondering, “can I still apply for ceba in 2023?” and what alternatives are available? Worry not! This comprehensive guide will shed light on the current state of CEBA, eligibility criteria, loan forgiveness, and alternative financial support options.

CEBA Application Deadline and Updates

Can I Still Apply for CEBA in 2023?

The CEBA program greatly supported Canadian businesses during the pandemic, but its application period has unfortunately ended. For those who missed the deadline, staying informed about updates to existing CEBA loans is beneficial. One significant update is the extension of the repayment deadline from December 31, 2022, to December 31, 2023. This extension provides a financial cushion for businesses that have been severely affected by the pandemic.

You can find more details on CEBA by visiting the Government of Canada CEBA website or reaching out to your financial institution. Those who have already applied for CEBA should keep a close eye on their business operating account for the transfer of funds from the CEBA account. Please note that notices of ineligibility for CEBA loans are valid, as they are based on the CEBA eligibility criteria.

Eligibility Criteria for CEBA Loans

Can I Still Apply for CEBA?

CEBA loans were designed to support eligible businesses during challenging times. To be eligible for CEBA, businesses must meet certain eligibility criteria. The eligibility criteria for CEBA loans are as follows:

  • Only one CEBA loan is allowed per CRA Business Number.
  • Organizations must have total employment income (payroll) paid to employees in the 2019 calendar year exceeding $20,000 CAD.
  • Organizations must have total employment income (payroll) paid to employees in the 2019 calendar year falling below $1,500,000 CAD.

Organizations that meet these eligibility criteria are eligible for CEBA loans.

Applying for CEBA was a straightforward process that involved logging in to your online banking account, accessing the CEBA application, and following the prompts to complete and submit the application. Upon successfully verifying and approving your CEBA application by your primary financial institution and the Government of Canada, you will receive an email notification, typically within 15 business days.

Loan Forgiveness and Repayment Deadline Extension

Can I Still Apply for CEBA Program in 2023?

Businesses that have secured a CEBA loan should familiarize themselves with the terms of loan forgiveness and repayment deadline extension. Here are the key points to note.

  • Borrowers who are eligible and in good standing can qualify for partial loan forgiveness.
  • The repayment deadline has been extended from December 31, 2022, to December 31, 2023, for this purpose.
  • To be eligible for this extension, borrowers must satisfy the criteria established by the Government of Canada, including eligible non-deferrable expenses, and be in good standing.

The interest rate on the CEBA loan is 5% per annum, with monthly interest-only payments required on the last day of the month commencing January 1, 2024. No principal repayments will be necessary until December 31, 2025, and no fees or penalties will be incurred for making principal repayments on the outstanding balance of CEBA loans.

If you do not repay your loan by December 31, 2023, the loan will convert to a two-year term loan at 5% interest, but if you are not in good standing, it will be considered a default on your loan.

Alternative Financial Support Options

Can I Still Apply for CEBA Loan?


If your business didn’t qualify for CEBA or you’re seeking additional financial support, there are alternative options available.

Next, we delve into the Regional Relief and Recovery Fund and other supportive initiatives from the Government of Canada for businesses navigating these uncertain times.

Regional Relief and Recovery Fund

The Regional Relief and Recovery Fund (RRRF) is a program instituted by the Canadian government to assist businesses and organizations affected by the COVID-19 pandemic. The RRRF furnishes financial aid to businesses that did not qualify for other government relief programs or require additional support. This fund is managed by regional development agencies across Canada.

Eligibility criteria for the RRRF vary according to region, but generally, businesses are expected to demonstrate that they have been affected by the pandemic and are in need of financial assistance. To apply, businesses are required to submit an application to their local regional development agency, which will assess the application and decide whether or not it is eligible.

The RRRF can provide financial aid to assist businesses in covering costs linked to the pandemic, such as payroll, rent, utilities, and other expenses.

Other Government of Canada Programs

In addition to the RRRF, the Government of Canada offers a variety of programs and services to assist businesses affected by COVID-19. Some notable programs include:

These programs cater to different needs and circumstances of businesses and individuals, such as providing temporary financial assistance for unemployed Canadians (EI) or tax-free monthly payments to eligible families to assist with the expenses associated with raising children under the age of 18 (CCB). Businesses can explore these programs and identify the one that best suits their needs and requirements.

Navigating the CEBA Loan Status Website

Can I Still Apply for CEBA Loan Program in 2023?

Those who have applied for a CEBA loan can verify the status of their application by visiting the CEBA Application Status Website hosted by the government. To log in to the website, you’ll need to utilize your government-issued credentials.

Once you’re logged in, you can ascertain the status of your application directly on the website. If you’re unsure about any aspect of your application, or if you need assistance in completing the process, you can follow the instructions provided on the website.

Contacting Your Financial Institution and CEBA Call Centre

If you have any questions about CEBA loan repayment, consider contacting your financial institution directly. If you’re not eligible for CEBA or have received an email indicating your ineligibility, you can contact the CEBA Call Centre at 1-888-324-4201 for assistance.

Your financial institution can also guide if you’ve received an email indicating ineligibility or haven’t received any communication regarding the CEBA loan. Businesses with questions about their CEBA enrollment or remediation request should contact the Government of Canada’s CEBA Call Centre at 1-888-324-4201 for further information.

Tips for Managing Business Finances During Uncertain Times

Can I Still Apply for CEBA Loan?

The financial hurdles due to the pandemic may seem daunting, yet by adopting sound financial management practices, your business can remain viable. First, create a budget detailing your income and expenditures to monitor cash flow and make informed financial decisions. Regularly reviewing your financial statements will enable you to identify cash flow issues and take necessary measures to address them.

Keeping personal and business finances separate aids in tracking business expenses and guarantees precise financial reporting. Explore opportunities to minimize unnecessary expenses and control costs by negotiating with suppliers, identifying cost-effective alternatives, or implementing cost-saving measures. Formulate a long-term financial plan that includes establishing financial objectives, devising a savings plan, and evaluating investment prospects with the help of financial institutions.

It’s also vital to understand your property taxes requirements and comply with tax regulations, consulting a tax specialist if necessary.


In conclusion, while the CEBA application deadline has passed, there are still important updates and alternative financial support options to consider. By understanding the repayment deadline extension, exploring alternative funding sources such as the RRRF and other government programs, and adopting sound financial management practices, businesses can better navigate the financial challenges posed by the COVID-19 pandemic and secure a stable future.

Frequently Asked Questions

Is CEBA still available?

CEBA is no longer available as the application period closed on June 30, 2021 and no new applications can be submitted.

Repayment deadlines and interest-free periods have been extended to December 31, 2023 for those who already applied and received the loan.

Will CEBA be extended to 2024?

The Canadian Federation of Independent Business is pushing for the federal government to extend the repayment deadline for the CEBA loan until December 2025 or at least 2024, so small business owners don’t lose up to $20,000 forgivable portion and pay the entire amount at a five per cent interest rate.

This would provide much-needed relief to small business owners who are struggling to stay afloat during the pandemic. It would also help to ensure that businesses are able to remain open and continue to provide jobs and services to their communities.

Can I still apply for CEBA in 2023?

Unfortunately, the CEBA application period has already ended, and therefore you cannot apply for CEBA in 2023.

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