The requirement to repay the unforgiven portion of the CEBA loan was initially set for December 31, 2022.
Program Repayment Deadlines Have Changed

  • The repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended to December 31, 2023, for all eligible borrowers in good standing.

 The CEBA program offered 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, 2023 will result in loan forgiveness of up to 33 percent (up to $20,000).
The full repayment of the loan if there is unpaid amounts after December 31, 2023 will remain December 31, 2025, it will have converted into a 2 year loan.

 Stay healthy,
Greg Libbrecht and the team at Platinum Business Services