Business Loans

Canada Emergency Business Account (CEBA)

Key CEBA deadlines are approaching

The deadlines for the interest free grace period and loan forgiveness are approaching on January 18, 2024. 

You can get more details on repayment terms and forgiveness for your CEBA loan from the Government of Canada. The government is no longer accepting CEBA applications, or applications for remediating or reclassifying previous applications.

Important CEBA program details

Interest free until January 18, 2024 

Your CEBA loan is interest free until January 18, 2024. After that, any remaining balance converts to a three-year term loan with 5% annual interest, due on December 31, 2026. Interest will be charged monthly beginning January 19, 2024.

CEBA loan forgiveness ends on January 18, 2024 

If you request loan forgiveness from an ATB team member and repay your CEBA loan before January 18, 2024, you may be eligible for up to 33% of the balance to be forgiven. Other conditions may also apply.

What you need to know about your loan

Grace period CEBA loans don’t accrue interest until January 19, 2024.
Forgiveness To qualify for forgiveness, you must request forgiveness from an ATB team member and repay your CEBA loan (minus the forgiveness amount) before January 18, 2024.

If your CEBA loan is in good standing, and there are no unresolved issues with your previous applications, a portion of your loan may be forgiven: $20,000 for a $60,000 loan and $10,000 for a $40,000 loan.

The forgiveness portion of the CEBA program is optional. You may choose not to claim forgiveness—we recommend that you speak with your accountant about the tax implications. 

Other conditions may apply.
Repayment You can make payments on the principal of your loan any time. Talk with an ATB team member to arrange payment toward your CEBA loan.
Interest Any remaining balance on your loan as of January 18, 2024 will convert to a three-year term loan with 5% annual interest starting January 19, 2024. Interest-only payments will be automatically deducted every month from your designated ATB account.
Full repayment deadline For eligible borrowers, the full repayment deadline is December 31, 2026.

Frequently Asked Questions

For program and eligibility information, visit the Government of Canada's CEBA site.

The repayment terms for all CEBA loans are the same, regardless of their size.

All loans are interest-free until January 18, 2024. On January 19, 2024 , they will convert to three-year term loans with 5% annual interest. The interest payment frequency is determined by your financial institution.

No principal payment is required before January 18, 2024. If any balance remains outstanding after that, only payments on interest are required until the full balance of the principal is due on December 31, 2026.

To make a repayment or payment towards your CEBA loan, please reach out to your relationship manager, an ATB Branch or ATB Call Centre where a team member will be happy to guide you.

Loan forgiveness requires you to request it from an ATB team member and pay a portion of your loan (indicated below) before January 18, 2024. 

In order to request forgiveness on your CEBA loan, you are only required to pay the balance of the loan, not including the forgiveness portion. Your loan forgiveness amount depends on how much you borrowed. 

  • For a $40,000 loan, if you repay $30,000 by January 18, 2024, the remaining $10,000 may be forgiven.
  • For a $60,000 loan, if you repay $40,000 by January 18, 2024, the remaining $20,000 may be forgiven.
  • For a $20,000 loan expansion, if you repay $10,000 by January 18, 2024, the remaining $10,000 may be forgiven.

CEBA is an interest-free loan until January 18, 2024. Beginning on January 19, 2024, interest will be 5% per year for three years. The loan must be paid back in full by December 31, 2026. 

The forgivable portion of your CEBA loan ($10,000 or $20,000) is taxable for the year in which you received your loan. Please speak with your accountant or the CRA regarding the tax implications of claiming forgiveness.

Your Repayment Plan term is determined by the Government of Canada using your own criteria, and isn’t negotiable or able to be amended.

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