CEBA Loan Repayment Deadlines Extended

Originally these loans were due this coming Dec. 31/22 in order to get the partial forgiveness.  The NEW deadline is now December 31, 2023.  This comes as welcome news to business owners who were concerned with the 2022 deadline.

Those with CEBA loans should receive a notification from your bank about this deadline extension.  If you don't hear from them, please reach out and confirm with the bank that processed your file.

Below is an excerpt of the information on the Federal site as well as the link to the site should you need it.

Program Repayment Deadlines Have Changed

The existing terms of CEBA loans require that the outstanding balance (other than the amount available to be forgiven) be repaid on or before December 31, 2022 in order to be eligible for partial loan forgiveness. The Government of Canada has announced the December 31, 2022 forgiveness repayment date will be extended to December 31, 2023 for eligible CEBA loan holders in good standing. If you qualify for the new extended term, you will be contacted with details regarding the new repayment date.