Canada Emergency Business Account

The Canada Emergency Business Account for Small Business (CEBA)

The Canada Emergency Business Account (CEBA) provides a $40,000 loan for eligible small business and not-for-profit organizations. This federal program is designed to help cover operating costs for organizations experiencing temporary revenue reductions.

If your small business qualifies, the Canada Emergency Business Account provides access to a $40,000 loan that is interest free until December 31, 2022. Principal payments can be made voluntarily at any time without fees or penalties. If you pay 75% of the balance of the loan on or before December 31, 2022, the remaining balance of your loan will be forgiven. (You can read the CEBA Guidelines to determine if you qualify here.)

If any part of the balance is not paid by December 31, 2022, the remaining balance will be converted to a 3-year term loan at 5% annual interest, paid monthly, effective January 1, 2023. The full balance must be paid no later than December 31, 2025.

CEBA eligibility has been expanded to include businesses with payroll less than or equal to $20,000 (including businesses with no payroll in 2019).

Applying for a CEBA Loan

Qualifications for application:

  • You must use the CEBA Pre-Screen Tool to determine your eligibility. The pre-screen tool ensures that applicants are aware of the CEBA qualification criteria and reduces the likelihood of ineligible applicants opening business accounts. Once you've completed the Pre-Screen Tool, you will receive an email confirmation with your pre-screen number which you can provide to your financial institution.
  • Have a CRA business number and have filed a 2018 or 2019 tax return.
    • Total employment income paid in 2019 must be between $20,000 and $1,500,000. Applicants with $20,000 or less in total employment income paid in the 2019 calendar year must;
    • OR
    • Have eligible non-deferrable expenses between $40,000 and $1,500,000 such as rent, property taxes, utilities, and insurance.
  • You must have authority to attest on behalf of the business
  • You can read the CEBA Guidelines to determine if you qualify here.
If you wish to apply for a CEBA loan, e-mail your request to

Your e-mail must include the following information:
  • Legal business name and "operating as" name, if applicable
  • Signing authority name(s), phone number(s), and e-mail address(es)
Upon receipt of your e-mail request you will be contacted by a Vision Credit Union lending team member. Please have the following information ready:
  • CRA Business Number (BN 15 characters - 9 digits, 2 alpha, 4 digits)
    • 2019 T4 SUM (Box 14 of 2019 T4 SUM)
    • OR
    • T1 Income Tax and Benefit Return or T2 Corporate Income Tax Teturn  (most recently filed - 2018 or 2019)
Once we have all of the required information, you will receive an e-mail from "DocuSign CA System" with a CEBA Schedule A - Attestation and CEBA Term Loan Agreement. You will sign the documents electronically.


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