On March 22, 2021, the federal government has announced that the deadline to apply for an interest-free, partially forgivable loan through the Canada Emergency Business Account (CEBA) program is being extended from March 31 to June 30, 2021.
This deadline extension applies to any new applications for CEBA loans of $60,000 or to new applications from businesses that have already received the $40,000 loan and intend to apply for the additional $20,000.
The extension will allow more businesses to access the support they need as Canada’s economy continues to deal with localized public health restrictions and, for a number of businesses, reduced opening hours or reduced demand for services. Extending the application deadline to June 2021 also aligns CEBA with the timelines of other federal government support programs for business.
To apply for CEBA or to learn more about the program, businesses can contact their primary financial institution. Information can also be found on the program’s website.