What is the Canada Emergency Business Account?

The Canadian Emergency Business Account program, administered by Canada’s banks and credit unions, provides interest-free loans of up to $60,000 to eligible businesses and not-for-profits.

Repaying the balance of the loan to the Government of Canada on or before December 31, 2023 will result in loan forgiveness of up to 33 percent (up to $20,000).

1. 0% interest until December 31, 2023
2. Principal repayments can be voluntarily made at any time without fees or penalties
3. Up to $10,000 loan forgiveness is available on eligible CEBA loans advanced for $40,000, provided $30,000 is paid back prior to December 31, 2023
4. Up to $20,000 loan forgiveness is available on eligible CEBA loans advanced for $60,000, provided $40,000 is paid back prior to December 31, 2023
5. If the balance is not paid by December 31, 2023, the remaining balance will be charged 5% annual interest, paid monthly, effective January 1, 2024
6. The full balance must be repaid by no later than December 31, 2025.

Alpine Credits Ltd. CEBA refinance program has been created to empower eligible CEBA applicants to fully capitalize on the CEBA loan repayment forgiveness offered by the government.

Navigate your financial landscape with confidence, knowing that Alpine Credits is committed to ensuring your business thrives.

Connect with us today and let us support you in your entrepreneurial journey.