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Canada Emergency Business Account Program

The Government of Canada is implementing the Canada Emergency Business Account Program (CEBA).

This program helps small businesses and not-for-profits cover their operating costs that cannot be deferred such as wages, rent, utilities, insurance premiums and property tax during a period where their revenues have been temporarily reduced due to the economic impacts of the COVID-19 pandemic.

More information


  • This program is offered through Laurentian Bank to its clients in the form of an interest-free term loan of CDN$60,000 until December 31, 2022.
  • This $60,000 loan contains a grant of 33.3% (CDN$20,000) if the amount of CDN$40,000 is repaid in full by December 31, 2022.
  • If the loan is not repaid by December 31, 2022, it can be renewed for 3 years (until December 31, 2025) at an interest rate of 5%.

Eligibility Criteria

Laurentian Bank clients who meet all the criteria below are eligible for the Canada Emergency Business Account Program:

  • Only an authorized signatory with the authority and power to financially bind the company can make a request.
  • The business is an operating company registered in Canada and active at at March 1, 2020.
  • The company has a Federal tax registration.
  • The business paid total employment income in the 2019 calendar year of between CDN$20,000 and CDN$1,500,000. Or
    For applicants with CDN$20,000 or less in total employment income paid during the 2019 calendar year, the following criteria apply:
    • The borrower has a Canada Revenue Agency business number and has filed a 2018 or 2019 tax return;
    • The borrower has eligible non-deferrable expenses of between CDN$40,000 and CDN$1,500,000. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance; expenses will be subject to verification and audit by the Government of Canada.
  • The company must have an active commercial current account with Laurentian Bank, which is its primary financial institution.
  • No prior request for the Canada Emergency Business Account Program has been submitted by the company or will be submitted through another financial institution. Otherwise, the Federal Government could initiate legal action.
  • In accordance with the requirements of the Canada Emergency Business Account Program (the “Program”), as set out by the Government of Canada, the funds from this loan shall only be used to pay non-deferrable operating expenses, including, without limitation, payroll, rent, utilities, insurance, property tax and regularly scheduled debt service. The funds may not be used to cover any payments or expenses, such as existing indebtedness, payments of dividends, distributions and increases in management compensation.
  • The company acknowledges its intention to continue to operate the business or to resume operations.
In accordance with the requirements of the Program as set out by the Government of Canada, the company confirms that:
  • it is not a Government organization or body, or an entity wholly owned by a Government organization or body;
  • it is not a non-profit organization, registered charity, union, or a fraternal benefit society or order, or an entity owned by such an organization, unless the entity is actively carrying on a business in Canada (including a related business in the case of a registered charity) that earns revenue from the regular supply of property/goods or services;
  • it is not an entity owned by any Federal Member of Parliament of Canada or Senator of the Parliament Canada; and
  • it does not promote violence, incite hatred or discriminate on the basis of sex, gender identity or expression, sexual orientation, colour, race, ethnic or national origin, religion, age or mental or physical disability, contrary to applicable laws.

To make a request:

To ensure we provide convenient, efficient and fair access for all eligible businesses, only online applications will be accepted.

IMPORTANT: The deadline to submit your application is June 30, 2021.

Businesses having opened a commercial account after March 1, 2020 can now file an application.

Subsequent to the Government of Canada’s broadening of eligibility criteria, businesses that do not presently have a commercial account and are currently operating with a personal account can now open a business account so as to have access to the loan. As the opening of a business account is a process requiring certain documents and information, we advise businesses to verify their eligibility for the program beforehand using the Government’s CEBA Pre-Screen Tool. You can then contact your branch or business centre team to proceed with opening your business account prior to filing your CEBA application.

Additional financing of $20,000 is now available: The Government has announced that it is offering businesses and not-for-profit organizations eligible for CEBA loans and that continue to be seriously impacted by the pandemic access to a new, interest-free loan of $20,000 in addition to the original loan amount of $40,000 provided.

Make a Request

In view of the exceptional context we are currently in the midst of, we are receiving a very high number of requests. Therefore, we ask that you complete the online form for this Program only once. Our teams are working tirelessly to respond as quickly as possible, and we thank you for your patience.

For more information, consult the Questions and Answers document concerning the CEBA Program.

If you have already applied for the CEBA Program and you have any questions (i.e.: application status, decline, etc.), we invite you to contact the Government of Canada CEBA Call Centre at 1-888-324-4201. You will be asked to leave a callback number. An agent will return your call between Monday and Friday from 10:00 am to 9:00 pm EST.