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CEBA is a Government of Canada loan program available to qualifying small- and medium-sized businesses being negatively impacted financially as a result of the COVID-19 pandemic.  A portion of this loan is eligible for complete forgiveness and requires no minimum monthly payments until December 31, 2022. You can find more information on this program on the federal government's CEBA website.

The expanded Canada Emergency Business Account (CEBA) enables businesses previously approved for a CEBA loan — and that continue to be seriously impacted by the pandemic — to access an additional interest-free loan of up to $20,000. Half of this additional financing is forgivable if repaid by December 31, 2022.

The CEBA $20,000 expansion loan is only available to businesses that:

  • previously received CEBA funding. You must apply through the financial institution who provided your previous CEBA loan;
  • are in good standing/not in loan or account arrears; and
  • can certify to meeting the following financial needs criteria:
    • that its business is facing ongoing financial hardship (including, for example, a continued decline in revenue or cash reserves, or an increase in operating costs) as a result of the COVID-19 pandemic;
    • that it intends to continue to operate its business or to resume operations; 
    • that in response to the COVID-19 pandemic it has made all reasonable efforts to reduce its costs and to otherwise adapt its business to improve its viability; and
    • that it has not used any loan received under the Program to make any payment or pay any expense other than Eligible Non-Deferrable Expenses. Specifically, the Borrower has not used any loan received under the Program to make any prepayment/refinancing of existing indebtedness, any payment of dividends, distributions or increases in management compensation or to increase the compensation of related parties. 

First time CEBA applications are eligible for a $60,000 interest-free loan. $20,000 of this financing is forgivable when $40,000 is repaid by December 31, 2022.

Use this quick Pre-Screen Tool to determine if your business may be eligible for enrollment. The Pre-Screen Tool is not an official CEBA application and does not guarantee approval for CEBA funding. Return to this page to proceed to enrollment only after receiving a CEBA pre-screen number.

You must have a business chequing account with Valley First or Enderby & District Financial and it must be your primary business operating account. If you don't have one, please contact us at 1-888-597-8083 to schedule a business account opening appointment. 

In 2019, was your business payroll between $20,000 to $1.5 million? Your business may be eligible.  

In 2019, was your business payroll $0 to $20,000 and your 2020 business expenses between $40,000 to $1.5 million? Your business may be eligible

If your business payroll in 2019 was $1.5 million or more, you do not qualify for CEBA. We may have other options available to you. Refer to Financial Relief for Business for more information.  

Visit our FAQs for more information on the Canada Emergency Business Account, as well as other frequently asked questions.

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