Contact the new Government of Canada CEBA Call Centre at 1-888-324-4201Opens your phone app. to receive a status update on your CEBA application.

What’s CEBA?

An interest-free loan of $40,000 for qualifying businesses

$10,000 is eligible for forgiveness if $30,000 is fully repaid on or before December 31, 2022

Receive funds within 10-15 business days from the date your fully completed application is submitted

CEBA loan at a glance


Loan terms prior to December 31, 2022





Loan terms after January 1, 2023



The outstanding balance must be repaid in full by December 31, 2025

Eligibility

  • an operating company registered in Canada on or before March 1, 2020;
  • CIBC as their primary bank. This means that the organization uses a CIBC Business Operating Account opened on or before March 1, 2020 for day-to-day payments and cash management activities. Otherwise, apply through the financial institution that holds your primary Business Operating Account;
  • good standing as an existing borrower, meaning you weren’t in arrears on existing borrowing facilities with CIBC, if applicable, by 90 days or more on March 1, 2020; and 
  • up-to-date business contact information, including phone number and email address.

Refer to the list of ineligible businesses Opens in a pop-up.

Note:

  • If your business has received other federal government relief, depending on the amount received, you may not be eligible for CEBA.
  • Eligibility and loan details are subject to change, based on CEBA program requirements. The terms and conditions of any agreement you enter into with CIBC will govern the loan, as well as your and CIBC’s obligations under the program.
  • For further details, please visit the Government of Canada websiteOpens a new window in your browser..


One.

Businesses with annual payroll between $20,000 and $1.5 million based on the sum of all employment income reported on all employee T4s for 2019.


Two.


Businesses with annual payroll less than $20,000 during 2019 and eligible non-deferrable expenses for 2020 projected to be between $40,000 and $1.5 million.

Ready to upload your non-deferrable expense documents?

Ready to apply? We’ll guide you through the process.

How do I apply?

There are now 2 ways to apply based on your organization’s circumstances:

One.

Simplified payroll-based

Businesses with annual payroll between $20,000 and $1.5 million based on the sum of all employment income reported on all employee T4s for 2019 will apply via CIBC Online Banking® for Business, using your CIBC Business Convenience Card and 15-digit Canada Revenue Agency (CRA) Payroll Number.

Two.

Non-deferrable expense-based

Businesses with annual payroll less than $20,000 during 2019 and eligible non-deferrable expenses for 2020 projected to be between $40,000 and $1.5 million, can apply via a 2-step process. 

First, initiate an application through CIBC Online Banking® for Business. Second, upload evidence of non-deferrable expenses via the Government of Canada’s CEBA website for verification. To complete this application process, clients will need to have:

  • a 9-digit CRA Business Number;
  • the ability to provide verifiable business information from their most recent CRA business tax filing (2018 or 2019); and evidence of eligible non-deferrable expensesOpens a new window in your browser. for 2020, like commercial leases, property tax statements or utility bills, to upload to the federal government’s website. 

What happens after I apply?

  • If applying on the basis of eligible non-deferrable expenses, the next step is to upload evidence of eligible non-deferrable expenses via the Government of Canada’s CEBA websiteOpens a new window in your browser. for verification in order to complete your submission.
  • Your completed application will be sent to the government for review. This entire process can take between 10 to 15 business days from the date that all required supporting documentation is received by the Government of Canada. 
  • You’ll receive a decision on the application from the Government of Canada and CIBC will notify you via email. If approved, you can expect to receive the CEBA loan directly into your existing CIBC Business Operating Account.
  • The deposit will be for the full amount of $40,000 and will appear in your account as “Credit memo CEBA loan advance.”

Applications are now being accepted online

Your business must apply through CIBC Online Banking® for Business. If you do not have access to CIBC Online Banking for Business, you can register for online banking with your CIBC Business Convenience Card®.

Advice and resources

Have a plan and make the most of CEBA

Did you get an interest-free loan from the government of Canada? Here are some tips on how to make the most of your Canada Emergency Business Account (CEBA) funds.

Read article (5 minutes)

CEBA FAQ

Preparing your application

Application support

Loan details

Financial assistance options

Banking remotely