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CEBA Update

CEBA Update

CEBA Requirements and Deadlines

  • As of December 4, 2020, hard-hit small businesses and not-for-profits could be eligible for an additional $20,000 CEBA loan, on top of the $40,000 already available
  • Applicants who have received the $40,000 CEBA loan may apply for the $20,000 expansion, which provides eligible businesses with an additional $20,000 in financing
  • Reminder: All applicants have until March 31, 2021, to apply for a $60,000 CEBA loan or the $20,000 expansion

Applicants Seeking Status Updates

  • Applicants can check the status of their CEBA Loan online at https://status-statut.ceba-cuec.ca/.
    • Please wait 5 to 7 business days after finalizing your application before checking your loan status on this loan status website or with the call centre. If you try before the 5 to 7 business days you will not receive an update
    • If you continue to have questions, you may call the CEBA Call Centre at 1-888-324-4201. The CEBA Call Centre is available Monday to Friday from 8AM to 9PM Eastern Standard Time, excluding statutory holidays

CEBA Update for Select $20,000 Expansion Applicants Awaiting Processes to Submit Additional Information

  • The CEBA program continues to actively work with more than 230 financial institutions to finalize the processes that will allow select $20,000 expansion applicants that were previously informed to submit additional information
  • Applicants awaiting processes to submit additional information will have until May 7, 2021 to do so
  • We are working to finalize the processes for applicants as quickly as possible. Your patience is very much appreciated

 

Why are the processes being made available for applicants awaiting to submit additional information taking longer?

The CEBA program continues to actively work with more than 230 financial institutions to finalize the processes that will allow select $20,000 expansion applicants that were previously informed to submit additional information.

Applicants awaiting processes to submit additional information will have until May 7, 2021 to do so.

It has taken longer than anticipated to make these processes available as we are working to ensure that as many applicants as possible are able to resolve their application errors.

We are working to finalize the processes for applicants as quickly as possible. Your patience is very much appreciated.

My $20,000 expansion application was not successful, how should I proceed?

Depending on the reason for which your $20,000 expansion application was not successful, you may be able to remedy your application.

In an effort to make the CEBA program accessible to as many businesses as possible, new processes will be made available to allow some businesses with CEBA expansion applications that were not successful to submit corrected and/or additional information and attempt to remediate their original loan application.

If this process applies to you, your financial institution will reach out with details on next steps.

Applicants awaiting processes to submit additional information will have until May 7, 2021 to do so.

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