Feds extend CEBA until June 30 to help small businesses
@FinanceCanada @DeputyPM_Canada @cafreeland @Mary_ng #smallBiz
The federal government has extended the deadline for its Canada Emergency Business Account (CEBA) program, allowing businesses to apply for the interest-free loan until June 30.
Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, and the Minister of Small Business, Export Promotion and International Trade, Mary Ng, announced that the deadline for new Canada Emergency Business Account (CEBA) applications is being extended from Mar 31 to June 30, 2021.
“The extension will allow more businesses to access the support they need as Canada’s economy continues to deal with localized public health restrictions and, for a number of businesses, reduced opening hours or reduced demand for services,” the government said in a statement.
Extending the application deadline to June 2021 also aligns CEBA with the timelines of other federal government support programs for business.
The extension of the application deadline and other adjustments that the government has made to CEBA, such as introducing the non-deferrable expense stream and increasing the loan amount from $40,000 to $60,000, demonstrate the government’s commitment to stand by small businesses.
More than 850,000 businesses have been approved for CEBA loans, totalling $44.91 billion in funds, according to the government.