Deadline Jan 10 – Petition to extend CEBA business loan repayment

People who would like to see the emergency business loan known as CEBA – the Canadian Emergency Business Account – repayment deadline extended can fill out a petition asking for this from the Government of Canada. The petition asks for a one year extension to January 18, 2025.

The current deadline is January 18, 2024 for partial forgiveness of loans of either $40,000 or $60,000. The forgiveness maximum is $20,000 if the remaining amount is repaid by the Jan 18 date.

Business groups across Canada have been calling for another extension of the loan deadline for several months. In response an extension was granted from December, 2023 to January 18, 2024. This extension follows a one year extension from December of 2022.

The online petition can be found HERE. As of December 22, there are 608 names on the petition. The petition page itself has an updated count.

From the website is this statement:

“The CEBA program was available from April 9, 2020, to June 30, 2021, and provided $49 billion in interest-free, partially forgivable loans of up to $60,000 to nearly 900,000 small businesses and not-for-profit organizations to help cover their operating costs during the pandemic.

The repayment deadline for CEBA loans to qualify for partial loan forgiveness of up to 33 per cent is being extended from December 31, 2023, to January 18, 2024, recognizing that the end of December is a busy time for many Canadian businesses. This builds on the government’s previous one-year extension announced in January 2022.”

More information on loan provisions is on the government website HERE:

The petition asks for certain limited information. Name. Email. Phone. Country. Province. Postal Code. A checkbox the signer is a citizen of Canada. A checkbox accepting Terms of Use.

The petition is open until January 10, 2024.

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