CEBA relief loans repayment deadline extended till end of 2023
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It was 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.
This extension will offer greater repayment flexibility to small businesses and not-for-profit organizations, many of which are facing continued challenges due to the pandemic. Repayment on or before the new deadline of December 31, 2023, will result in loan forgiveness of up to a third of the value of the loans (meaning up to $20,000).
Outstanding loans would subsequently convert to two-year term loans with interest of 5 per cent per annum commencing on January 1, 2024, with the loans fully due by December 31, 2025.
The government is also announcing that the repayment deadline to qualify for partial forgiveness for CEBA-equivalent lending through the Regional Relief and Recovery Fund is extended to December 31, 2023.
The TEAM:
For assistance at any time, please reach out to the team member below who represents your region. Based on the current volume of email, if you reply to this email directly without copying the appropriate regional team member, my response may be significantly delayed.
- Zach Nixon, Senior Special Assistant, Regional Affairs and Stakeholder Relations – Zachary.nixon@international.gc.ca
- Tyler Norman Special Assistant, Regional Affairs (West and North) – tyler.norman@international.gc.ca
- Camille Benoit-Blouin, Special Assistant, Regional Affairs (Quebec) – camille.benoit-blouin@international.gc.ca
- Andrew Welsh, Special Assistant, Regional Affairs (Atlantic) and Policy – andrew.welsh@international.gc.ca
