Business COVID-19 Updates

Canada Emergency Business Account (CEBA) Application Form

The Canada Emergency Business Account (CEBA) program is available to businesses who meet the eligibility criteria set out below. Subject to the ongoing availability of government funding, up to $60,000 is available to businesses to help cover operating costs.

CEBA Loan Details

The CEBA program is available and delivered directly by Quinte First. 

All applicants have until March 31, 2021, to apply for $60,000 CEBA loan or the $20,000 expansion.

CEBA requirements and deadlines have changed:

  • As of December 4, 2020, CEBA loans for eligible businesses will increase from $40,000 to $60,000.
  • Applicants who have received the $40,000 CEBA loan may apply for the $20,000 expansion, which provides eligible businesses with an additional $20,000 in financing.
  • All applicants have until March 31, 2021, to apply for $60,000 CEBA loan or the $20,000 expansion.

If you have already applied for a CEBA loan and have questions, please contact the new CEBA Call Centre at 1-888-324-4201 for a status of your application. An agent will return your call within 3 business days between Monday and Friday from 10:00 am to 9:00 pm EST.

Program Overview

  • This $55 billion program provides interest-free loans of up to $60,000 to small businesses and not-for-profits.
  • Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 33 percent (up to $20,000).
  • As of October 26, 2020, eligibility for CEBA expanded by removing the previous March 1, 2020 condition for having an active business chequing/operating account. With this removal, eligible businesses can now apply after opening a business chequing/operating account with their primary financial institution.
  • As of December 4, 2020 approved CEBA applicants can now receive a $60,000 loan. CEBA applicants who have received the $40,000 CEBA loan may apply the CEBA expansion, which provides eligible businesses with an additional $20,000 of financing.
  • Interest rate at 0% until December 31, 2022.
  • No minimum monthly principal payments until December 31, 2022. 
  • If the loan cannot be repaid by December 31, 2022, it can be converted into a 3-year term loan at an interest rate of 5% per annum. 

Ready to start the process?

Contact your Account Manager for application information OR for information on how to apply.

For additional information, visit the Government of Canada website.

*All Applicants are subject to Quinte First’s lending criteria.

New Ontario Small Business Support Grant to Provide up to $20,000 for Eligible Businesses!

 Eligible criteria to be released in January 2021, for further information, click here.