Loan forgiveness repayment deadline extended for the Canada Emergency Business Account (CEBA)

On January 12, 2022, Finance announced that the repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended from December 31, 2022, to December 31, 2023, for all eligible borrowers in good standing. The repayment deadline to qualify for partial forgiveness for CEBA-equivalent lending through the Regional Relief and Recovery Fund is also being extended to December 31, 2023.

Outstanding CEBA loans would subsequently convert to two-year term loans with interest of 5% per annum commencing on January 1, 2024, with the loans fully due by December 31, 2025.

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News Release – Government extends loan forgiveness repayment deadline for the CEBA