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Updates On Business Loan Program

Updates On Business Loan Program

Last week, the federal government provided more details regarding the Canada Emergency Business Account (CEBA) loan program.

Updates On Business Loan Program

Canada Emergency Business Account (CEBA)

An FAQ has been released in respect of the CEBA application document uploads in respect of the non-deferrable expenses stream. Some items of note:

  • You must complete the CEBA application at your primary financial institution by August 31, 2020 at the latest.
  • After completing the application with your financial institution, you must upload supporting documentation by September 3, 2020 at the latest.
  • Allocate between 15 to 30 minutes to complete the entire process.
  • An applicant may re-apply if there is a need to provide additional information or make a correction.
  • There is no formal appeals process for CEBA applications in either the Payroll or Eligible Non-Deferrable Expenses application streams.
  • The same supporting documentation can be used to support two different 2020 Eligible Non-Deferrable Expenses.
  • Eligible Non-Deferrable Expenses may have already been incurred after January 1, 2020 or are to be incurred prior to December 31, 2020. For example, if you have a monthly telecommunications bill for $200 and it is expected to continue throughout the year, then your full 2020 forecasted Eligible Non-Deferrable Expense would be 12 months at $200 = $2,400 total expenses for 2020.
  • Eligible Non-Deferrable Expenses must be one of the following:
    • Wages and other employment expenses to independent (arm’s length) third parties;
    • Rent or lease payments for real estate used for business purposes;
    • Rent or lease payments for capital equipment used for business purposes;
    • Insurance related costs;
    • Property taxes;
    • Telephone and utilities in the form of gas, oil, electricity, water and internet;
    • Regularly scheduled debt service;
    • Independent contractors and fees required in order to maintain licenses, authorizations or permissions necessary to conduct business by the Borrower

Should you have any questions or feedback, please reach out to myself or the team. As always, we are here to help and support you.



Caveat: The information in this publication is current as of the time it was written. This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact Deuzeman & Associates to discuss these matters in the context of your particular circumstances. Deuzeman & Associates does not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.

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