For status updates on previously submitted CEBA applications, contact the Government of Canada’s CEBA Call Centre at 1-888-324-4201 Opens your phone app. or visit the CEBA application status website Opens in new window..

Canada Emergency Business Account

We understand that many businesses, particularly owner-operated businesses, are struggling through the negative effects of COVID-19 on their operations and we’re here to help.

CEBA provides an interest-free loan to help cover operating costs during a period where your business revenues have been temporarily reduced due to the economic impacts of COVID-19. CEBA has changed to allow more Canadian businesses and not-for-profits to access funds to cover operating costs and other non-deferrable expenses.

How has CEBA changed?

Get additional funds with CEBA

Apply for an increase of $20,000 to your previously approved and funded $40,000 CEBA loan.

Increased loan amounts

Businesses applying for CEBA for the first time may now be eligible for a $60,000 interest-free loan.

Increased forgiveness

$20,000 of a $60,000 CEBA loan can be forgiven if $40,000 is repaid by December 31, 2022.

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

Is my business eligible?

  • an operating company registered in Canada on or before March 1, 2020;
  • a CIBC Business Operating Account for their day-to-day payments and cash management activities; and
  • up-to-date business contact information, including phone number and email address.

  • Complete the Government of Canada's CEBA eligibility check first to help determine business eligibility for the loan, and receive a 10-digit confirmation number via email.
    CEBA eligibility checkOpens in a new window.
  • Proceed to call the Business Contact Centre or your relationship manager to open a CIBC Business Operating Account in order to apply for the CEBA loan.

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, visit the Government of Canada websiteOpens a new window in your browser..


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

 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 apply?

Apply for an additional $20,000 CEBA loan

Step 1: Apply now using the same account and CIBC Online Banking for Business® Opens in new window. used to apply for your $40,000 CEBA loan.

Step 2: Submit your application in just a few minutes. You’ll receive a response in 5 to 7 business days at your business email address. 

for an additional CEBA loan. Opens in new window.

Apply for a new $60,000 CEBA loan

Step 1: Apply now by signing on to CIBC Online Banking® for Business using the Business Convenience Card linked to your business operating account.

Step 2: There are 2 ways to apply based on your business circumstances:

Simplified payroll-based

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

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.

Step 3: For non-deferrable expense-based applications, upload your expense documentation. CEBA document upload website Opens in new window.

Step 4: After completing your application, you will be notified of the government’s decision in 10 to 15 business days.

Request a $20,000 increase while awaiting your $40,000 CEBA loan approval

Step 1: Complete your original $40,000 CEBA loan application. You can’t receive a $20,000 increase unless your original loan is approved.

Step 2: Submit your application now, and we’ll notify you when your $20,000 increase has been forwarded to the Government of Canada.

Open a business account to be eligible for a new $60,000 CEBA loan

Step 1: If you use a personal account for your business, you can apply for CEBA by opening a new business account. Before doing this, verify your eligibility for the CEBA program with the government Opens in new window

Step 2: After completing the pre-screen, you’ll be provided a 10-digit confirmation number. You can now proceed to open a CIBC Business Operating Account to apply for CEBA. Learn more about CEBA Opens in new window.

Step 3: After opening your business account, register for CIBC Online Banking® for Business Opens in new window. using your Business Convenience Card.

Step 4:  Your business is now ready to apply for a new $60,000 CEBA loan. Complete your application by applying through online banking Opens in new window..

What happens after I apply?

Confirmation email

We’ll send a message to your business email address within a few days of receiving your application with further instructions.

Complete your application

If you applied based on your businesses non-deferrable expenses, you’ll need to upload your expense documents Opens in new window..

Government review

Your completed application will be forwarded to the government. Responses for new CEBA loans may take 10 to 15 business days.

Receive your loan

If approved, we’ll send a message to your business email and deposit the funds directly into your business account for your immediate use.

Applications are 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®.