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Updates On Business Loan Program

Business Loan

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)

  • The CEBA website has been updated to include addition FAQ questions focusing on the details and differences between applying under the original "Payroll Stream" and the expanded "Non-Deferrable Expenses Steam”.
  • Ability to apply under the expanded program was supposed to begin Friday June 19, 2020 but has been delayed.
  • Applications under the Payroll Stream (total employment income paid to employees in 2019 greater than $20,000 and less than $1,500,000) will be completed directly through the financial institution in which your business holds its primary business chequing/operating account. The Government of Canada will notify your financial institution and provide funding for your CEBA loan.
  • Applications under the Non-Deferrable Expenses Stream (total employment income paid to employees in 2019 of $20,000 or less and 2020 Eligible Non-Deferrable Expenses - subject to adjustments for support or subsidies under other Government of Canada COVID response programs - greater than $40,000 and less than $1,500,000 will follow a two-step process:
    • Step 1: Businesses will initiate applications directly at their primary financial institution where they hold their primary business chequing/operating account. The financial institution will then direct applicants to Step 2 of the application process.
    • Step 2: Following the initial application through your financial institution, applicants will be directed to a CEBA website to provide supporting documentation of the 2020 Eligible Non-Deferrable Expenses and to complete the application. If successful, the Government of Canada will notify your financial institution and provide funding for your CEBA loan.
  • Additional documents required will include:
    • The name of the financial institution where you submitted your application;
    • Your 9-digit business number (same number you used in your application with your financial institution); and
    • Electronic or paper copies of receipts/invoices/agreements to be uploaded as evidence of your 2020 Eligible Non-Deferrable Expenses.

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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