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. CEBA loanholders who applied to refinance with the financial institution from which they received their loan would be eligible to repay it by Mar 28, 2024, and still received partial loan forgiveness; otherwise, partial loan forgiveness is no longer available.¹

Visit 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.

What if I was unable to repay my CEBA by the Jan 18 deadline?

Starting Jan 19, 2024, all outstanding CEBA loans would incur annual interest of 5%, with interest payable monthly and the entire loan balance due Dec 31, 2026.

If you applied to refinance your CEBA loan with the financial institution from which you received it on or before Jan 18, 2024, your forgiveness eligibility would be extended to Mar 28, 2024, provided you repay the entire amount (plus interest) by that date.

Where can I find how much I owe?

You can login to Online Banking to view your CEBA loan under Accounts.

Notice

Vancity contacted all CEBA loanholder-members at the email addresses provided during the loan sign-up process; these emails contained important information about the CEBA program and repayment options.

Where do I go to repay my loan?

To make partial payments online, log in to Online Banking, select “Transfer Money” in the left navigation and transfer to payments to your CEBA loan account. To pay off the loan in full or make the final payment, transfer the remaining balance, or call us or visit a branch for assistance. It may take time for your payment to be reflected in Online Banking.

I repaid my loan. When is my forgiveness applied?

If you repaid your CEBA loan according to the criteria to receive partial loan forgiveness, and you were eligible for said forgiveness, the forgivable amount of CEBA borrowings may still appear in your account while it is processed. If the forgivable amount no longer appears, your loan forgiveness has already been processed.

If you had multiple CEBA loans with Vancity across this business or other entities, please ensure you take action to repay those CEBA loans accordingly.

If you are experiencing issues with your loan repayment, or have other inquiries about your CEBA loan, please click here to book an appointment with one of our advisors.

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.

0% 5%

Interest

From Jan 19, 2024, outstanding balances will be charged an annual interest rate of 5%. Interest payments are due monthly. The loan principal, plus interest, will be due Dec 31, 2026.¹

Other

Forgiveness and refinancing

Forgiveness and refinancing deadlines have passed.