CEBA Applications Update
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