YOUR BUSINESS ALLY
CEBA Repayment Deadline Extension
News:
The repayment deadline for Canada Emergency Business Account (CEBA) loans to qualify for partial loan forgiveness has been slightly extended:
- from December 31, 2023
- to January 18, 2024
for all eligible borrowers in good standing.
See loan extension details below…
If your business has a CEBA loan, you now have until January 18, 2024 to repay it and receive loan forgiveness of up to one-third of the value of the loan.
By January 18, 2024 the loan must be paid off or you must have submitted information to your bank to qualify for a 3 year loan at 5%.
Option 1 - Payout
- Pay off CEBA loan $30,000 or $40,000, after partial loan forgiveness, by January 18, 2024.
Option 2 - Loan Extension
- Apply for a 3 year loan at 5%.
- Apply and send information before January 19, 2024.
- Get loan approval by March 28, 2024.
- You will receive the loan forgiveness amount.
If you can't pay off your loan in full by January 18, you should start your application with your bank now!
For more information, read the press release or contact us.
Business and Tax Advice
for Alberta's small businesses owners
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Your Business Ally
Phil Cruickshank
Phil is a Partner at the business accounting firm of Zenally Chartered Professional Accountants LLP.
For more than 30 years, he has sat face-to-face with owners of businesses of all sizes. He has listened to them, helped them identify their issues, and provided guidance.
Business owners have left with answers to their questions, less stress moving forward, and confidence that they have a business ally to call on anytime they need.
Interested in finding out more about Phil, his team and what they can do for your business? Check them out at zenally.cpa.
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