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$40,000 until December 31, 2022.
  • 25% of the loan (CDN$10,000) is eligible for complete forgiveness if CDN$30,000 is fully repaid 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 who therefore has the authority and power to financially bind the company can make a request.
  • The company is an operating company registered in Canada and operating as of March 1, 2020.
  • The company has a federal tax registration.
  • The company total employment income paid in the 2019 calendar year was between CDN$20,000 and CDN$1,500,000 Or
    For applicants with CDN$20,000 or less in total employment income paid in 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 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. This account was opened on or prior to March 1, 2020 and the company was not in arrears on existing borrowing facilities with Laurentian Bank by more than 90 days as at March 1, 2020.
  • No prior request for the Canada Emergency Business Account Program has been submitted by the company or will be submitted to another financial institution. Otherwise, the federal government could initiate legal action.
  • Per 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.
Per 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 a convenient, efficient and fair access for all eligible businesses, only online applications will be accepted.

IMPORTANT: The deadline to submit your application is October 31, 2020.

It is now possible to communicate with the Government of Canada CEBA Call Centre for any question concerning your request (i.e.: application status, decline, etc.). You can contact an agent at the new CEBA Call Centre at 1-888-324-4201, Monday to Friday from 8:00 am to 9:00 pm EST.

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 document Questions and Answers concerning the CEBA.