Canada Emergency Business Account (CEBA)

The CEBA repayment deadline has passed.

The Jan 18, 2024 repayment deadline for the CEBA program has now passed. Starting Jan 19, 2024, all outstanding CEBA loans would start to accrue interest at a 5% annual rate, and are payable in-full by Dec 31, 2026.

For CEBA loans that are transferred to EDC, please refer to the Government of Canada CEBA program website.

Repaying your CEBA loan.

Repaying your CEBA loan in Online Banking is easy. Simply transfer funds from your desired account directly to the CEBA Loan Account.

  1. Log into Online Banking
  2. Select “Transfer Money”
  3. Select “CEBA Loan Account,” input your desired amount, and write “Pay off CEBA loan” in the Memo.
  4. Confirm details and submit.

Have questions or need advice?

Book a call about repayment

Questions about repayment.

Key information.

The section contains key details about the Canada Emergency Business Account (CEBA) program from the Government of Canada. To learn more, visit the official CEBA program overview website.

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CEBA eligibility has been established based on the criteria determined by the Government of Canada. Vancity has no authority to grant exceptions to these criteria. This content outlines repayment terms for eligible CEBA loan holders in good standing. The updated key dates of the CEBA program are outlined below for your reference. Please see here for more details. 

  1. Interest
    1. 0% per annum interest until January 18, 2024.
    2. 5% per annum interest starting on January 19, 2024.
  2. Repayment & Maturity
    1. No principal repayment is required before January 18, 2024. The borrower is not obligated to make any principal repayments on the refinancing loan before January 18, 2024.
    2. If the loan remains outstanding on January 19, 2024, it will automatically convert into a non-amortizing term loan. The Borrower will be required to make full principal repayment on or before December 31, 2026.
  3. Debt Forgiveness
    1. If the outstanding principal, other than the amount of potential debt forgiveness, is repaid by January 18, 2024, the remaining principal amount will be forgiven.
    2. If you submit a refinancing loan application to Vancity on or before January 18, 2024, but require a grace period in order to finalize the payout of your CEBA loan, you can still qualify for partial forgiveness if the outstanding principal of your CEBA loan (other than the amount of potential debt forgiveness), plus any applicable interest is repaid by March 28, 2024.