Canada Emergency Business Account

CEBA


CEBA

Online CEBA application click here!

Update (December 11, 2020): The Government of Canada, alongside its partners EDC have expanded the Canada Emergency Business Account (CEBA) loan program to provide additional financial support to those eligible Canadian small businesses and non-profits who continue to be impacted by the unprecedented economic challenge brought on by the COVID-19 pandemic.

Under this expansion, the CEBA program will now provide access to an additional $20K to eligible borrowers who already received a $40,000 loan and $60,000 for new applicants to CEBA.

If you are a business member and have an existing CEBA loan administered through our credit union, and the loan is in good standing, you may apply for the additional $20,000. For those who are eligible, $10,000 will be forgivable if repaid by December 31, 2022. For example, if you are a business who has a current loan of $40,000 and are approved for the additional funds under the new criteria of $20,000 your total loan is $60,000 and of that, $20,000 is forgivable if repaid before December 31, 2022.

For those business members who do not have an existing CEBA loan or pending application, and meet the criteria outlined by EDC, you may be eligible for a loan up to $60,000 with a total of $20,000 forgivable if repaid prior to December 31, 2022. New applicants must complete the EDC pre-screening tool here and follow the other application requirements outlined below.

The application deadline has been extended to March 31, 2021

To determine if you may meet the CEBA eligibility requirements, please use the EDC CEBA pre-screen tool.

If it is determined that you may be eligible, contact us at your local branch or by email to admin@ccunl.ca to open a business chequing/operating account and continue the application for the CEBA loan here.

More information on the program as well as frequently asked questions are outlined below.


The Government of Canada and Export Development Canada (EDC) have launched the Canada Emergency Business Account (CEBA) to support businesses and non-profits that have been adversely affected by COVID-19. Eligible businesses will receive a total of $60,000 loan for immediate financial support to cover short term operating expenses, payroll, and other non-deferrable expenses which are critical to sustain business continuity.

We are accepting applications for the CEBA loan program on behalf of the Government of Canada and Export Development Canada (EDC) until March 31, 2021. To apply, please complete the following:

1. Complete a government pre-screening to see if you may be eligible for the CEBA Program. If you may be eligible, you will receive a 10-digit pre-screen number.

2. Open a business account. A business account is required to qualify for the CEBA program. Contact us at your local branch or by email to admin@ccunl.ca to open your business banking account. 3. Submit your application by clicking here.

Online CEBA application click here!

Frequently Asked Questions

For more information on the CEBA Program, visit the Government of Canada website.

 

 

Find Branch/ATM

Enter address, postal code or branch name