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

When is CEBA Loan Due

When is CEBA Loan Due
Reading Time: 9 minutes

With the COVID-19 pandemic impacting Canadian businesses, the Canada Emergency Business Account (CEBA) provided a financial lifeline to help keep them running. To make sure they take full advantage of this loan relief measure, it is important for those applying to know all about eligibility criteria and when their CEBA loans will be due in terms of repayment deadlines. But when is CEBA loan due?

Here we have put together an overview regarding these aspects as well as some helpful tips on managing repayments effectively so you can gain insight into emergency business accounts.

When looking at loan forgiveness, for example, one question that arises from applicants is “When is the CEBA loan due?” This guide outlines what needs to be taken into consideration related to being eligible for such assistance with your funding plus advice around balancing any liabilities arising from loans applied by Canadian businesses towards national funds like the CEBAs.

Ask yourself questions like how much time do I need? or Am I able to meet my payment dates? should also help ensure successful management of credit applications especially given understanding key elements relevant around forgiveness rules prior to making application decisions are now available online via many reputable finance sites!

Short Summary

  • CEBA Loan application deadline was June 30, 2021 with 0% interest rate grace period until December 31, 2023 and full payment due by 2025.
  • Businesses can qualify for CEBA loan forgiveness if they meet specific eligibility criteria.
  • Small business owners should create a budget and maintain communication with financial institutions to manage CEBA loan repayments effectively.

CEBA Loan Overview


The Government of Canada has established a financial aid program known as the Canadian Emergency Business Account (CEBA) in order to assist businesses within the country that have been affected by COVID-19. This interest-free loan provides up to $60,000 for those who are eligible and serves as an essential lifeline during these trying times. The CEBA expansion increased the amount available, initially set at $40,000 from when it was first unveiled. For more information regarding this service and its conditions, one can look towards resources provided by the Federal government on their website.

When is CEBA Loan Due: Key Dates and Deadlines


It’s important to be mindful of the due dates associated with your CEBA loan. The cutoff date for applications was June 30, 2021 and any requests after this would not have been accepted. Until December 31, 2023, no repayments will need to be made as a grace period is applied at a 0% interest rate. By the end of 2025, the full payment must have been satisfied in accordance with the terms set out within your agreement regarding the loan.

Application Deadline

The deadline to submit applications for the CEBA loan was June 30, 2021. This marked the end of an opportunity for businesses in need of financial assistance through this program. It is important that any business wishing to benefit from it met that cut-off date by submitting its forms beforehand.

CEBA serves as a helpful aid aimed at helping enterprises cover operational expenditures during these challenging times due to COVID-19. With interest free loans up for grabs too!

Grace Period

CEBA loans offer businesses an extended grace period until the end of December 2023, where they can enjoy a 0% interest rate. This is essential to enable firms to bounce back from pandemic-induced losses without having their debt compounded by accumulating interests. To ensure flexible loan repayment terms for each business involved, these companies are offered a range of plans that suit them best when it comes time to pay back what’s owed on loan.

Final Repayment Deadline

The CEBA loans require full repayment by the end of 2025. Thus, it is essential that businesses have a plan in place to ensure they can settle their outstanding loan balance prior to this deadline. It would be beneficial for them to adhere strictly to any payment timelines established to avoid financial hardship before December 31st.

Loan Forgiveness and Repayment

When is CEBA Loan Due? Loan Forgiveness

The CEBA loan forgiveness program greatly benefits businesses by providing financial relief in the form of reduced loan balances. In order for businesses to qualify, they must meet certain eligibility criteria set out by the CEBA program. We’ll look into these requirements and how eligible applicants will receive their loan reduction.

Businesses that fulfil the conditions stipulated under CEBA’s eligibility criteria can then take advantage of this measure, which is provided via decreased repayment amounts. Such significant debt relief makes taking part in this programme highly desirable.

Eligibility Criteria

Suppose you’re a small business owner and have taken out either the $40,000 or $60,000 CEBA loan program offered by your financial institution. In that case, there is an opportunity for forgiveness that could reduce your loan balance. To benefit from this incentive though, it’s essential to make sure all eligibility criteria are met, so contact your bank for details on how they evaluate these conditions and manage the process of reducing said loans. Staying up-to-date with relevant information will ensure businesses receive their due amount of relief while alleviating any associated fiscal pressures in regard to repayment.

After the Grace Period: Conversion to Term Loan


In order to access the forgiveable portion of a CEBA loan, businesses must meet the eligibility criteria and ensure that their loan is in good standing before December 31, 2023. If they fail to repay by this date, then it will be converted into a two-year term with an interest rate of 5%.

It’s important for business owners to take responsibility for their repayment schedule and communicate frequently with financial institutions so as not to miss out on any benefits associated with these loans.

Tips for Small Business Owners


Small business owners should plan carefully in order to successfully manage their CEBA loan repayments. It is key that they maintain communication with lenders and banks for this process. The following tips are designed to help small businesses when budgeting, planning repayment strategies, and forming connections with financial institutions involved.

Budgeting is a fundamental step toward managing any loan payments. It will ensure the success of your endeavour so make sure you take the time necessary crafting an appropriate budget while taking into account all expenses related to repaying a loan from a CEBA provider or other financier. Maintaining open lines of communication between yourself and such parties throughout the entire course of repayment activity will also be invaluable.

Budgeting and Planning


Small business owners must carefully budget and plan for the CEBA loan repayment in order to ensure financial success. Each month, businesses should put aside money for their repayments plus any interest associated with it so they can easily adhere to this responsibility. It is also important that a budget takes into account other costs such as rent, utilities, payrolls and taxes. Crafting a thorough estimate of all these elements will assist small companies keep track of paying back the CEBA loan while maintaining sound monetary stability too.

Communication with Financial Institutions

It is vital for businesses to engage in an open dialogue with banks and lenders over CEBA loan repayment, as this helps them stay up-to-date on deadlines so they can meet payment requirements without facing any penalties or fees. Remaining in contact with financial institutions allows companies to keep abreast of alterations regarding the loan terms or its schedule of repayment.

Navigating Rent or Lease Payments

CEBA loan usage

Repaying CEBA loans while managing rent or lease payments can be challenging for businesses. Fortunately, these costs are eligible for loan forgiveness in the program and should all be taken into consideration when preparing a budget. By keeping organized and communicating with financial institutions regularly about this issue, companies have greater chances of repaying their debt without experiencing financial stress due to pandemic-related issues.

CEBA Call Centre and Support

When is CEBA Due? Call center

The CEBA Call Centre and Support team can offer assistance to businesses regarding loan repayment for their CEBA loans. Operating between Monday-Friday from 9am-6pm Eastern Time (except statutory holidays), the centre provides guidance and support in navigating payments of these types of loans. Those encountering difficulties or seeking assistance can find great value through utilizing the resources available at the call centre.


In summary, the CEBA plays an integral role in aiding Canadian companies that are negatively impacted by COVID-19. It’s important to be aware of essential details such as key dates and eligibility conditions for loan forgiveness, so businesses can stay on top of their repayment process and focus more energy on returning to normal operations.

It is imperative that budgeting strategies, financial planning tools and connecting with relevant banking institutions frequently should all be employed when managing a CEBA loan debt. We hope this article has been helpful in providing useful tips about making the most out of Canada Emergency Business Account relief measures, ensuring businesses remain stable during uncertain times while meeting necessary repayment requirements along the way!

Frequently Asked Questions

Is CEBA loan forgiveness extended to 2023?

The Canadian government has shown their dedication to helping businesses during these trying times with an announcement extending the repayment deadline for CEBA loans until December 31, 2023. This applies only to those eligible companies in good standing and allows them additional time so they can focus on operations and continue toward recovery. The Liberal administration is devoted to supporting all organizations through this period of difficulty, emphasizing their unwavering commitment.

What date do you have to pay back CEBA loan?

In order to have up to 33% of your CEBA loan (up to $20,000) forgiven, you must repay the full principal by December 31, 2023. After this date, interest charges will begin accumulating on what remains of the loan if it is not paid off entirely.

What happens if you don’t pay back CEBA?

By December 31, 2023, any remaining principal amount on the CEBA loan will incur interest charges of 5% and the loan forgiveness will be forfeited. Thus it is essential to repay this loan before that date in order to avoid Costs.

What is the grace period for CEBA loans?

CEBA loans include a grace period of 0% interest rate up until December 31, 2023. This means that borrowers can take advantage of the no-interest loan opportunity over this duration provided by CEBA.

What are the eligibility criteria for CEBA loan forgiveness?

Businesses that successfully obtained either a $40,000 or a $60,000 CEBA loan are eligible for loan forgiveness.

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