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Canada Emergency Business Account (CEBA) – Government extends loan forgiveness repayment deadline

The federal government has announced that the repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended from December 31, 2022 to December 31, 2023, for all eligible borrowers in good standing.

This extension will support short-term economic recovery and offer greater repayment flexibility to small businesses and not-for-profit organizations, many of which are facing continued challenges due to the pandemic. Repayment on or before the new deadline of December 31, 2023, will result in loan forgiveness of up to a third of the value of the loans (meaning up to $20,000).

To read the government’s full release, click here.

For more information, please contact your Lipton advisor.

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Established in 1976, Lipton LLP Chartered Accountants has built a reputation across the GTA and Canada as a trusted business advisor to their clients. Lipton's clients value our client-focussed dedication and expert advice custom tailored to suit their needs.

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