The application deadline to apply for the CEBA loan was extended to March 31, 2021. We understand that some banks will be opening applications for the additional CEBA loan of $20,000 on December 4th, 2020.
CEBA details for new and existing applications are as follows:
- Existing CEBA clients:
- Another $20,000 available (in addition to the original $40,000, for a total of $60,000);
- Up to $20,000 forgivable, if $40,000 repaid by December 31, 2022;
- Clients need to apply with the same Financial Institution where they applied for the original CEBA; and
- This will be an increase to the original loan.
- New CEBA applicants:
- $60,000 available; and
- Up to $20,000 forgivable if $40,000 repaid by December 31, 2022
