Be Wealthy.
Government of Canada Extends CEBA Repayment Deadline

Government of Canada Extends CEBA Repayment Deadline

The Government of Canada has extended the repayment deadline for CEBA loans by one year from December 31st, 2022 to December 31st, 2023 in response to the additional challenges that businesses may be facing as a result of the Omicron variant.

Repayments made on or before the new deadline will result in partial loan forgiveness of up to $20,000. This extension also applies to the CEBA-equivalent loans received through the Regional Relief and Recovery Fund.

If the loans are still outstanding at the December 31st, 2023 date, they will be converted into two-year loans at an interest rate of 5% per annum and will be fully due by December 31st, 2025.

If you have any questions about the CEBA loans or any other government programs relating to COVID-19 relief, please feel free to contact one of the CPAs at our Cranbrook (250) 426-1976 or Creston (250) 248-2248 offices.