On September 14, 2023, the Government of Canada announced an extension to the repayment deadline for Canada Emergency Business Account (CEBA) loans.

The extension was in recognition of the fact that the end of December is a busy time for many Canadian businesses, and builds on the government’s previous one-year extension.

When has the deadline been extended to?

The deadline has been extended to January 18, 2024 (from December 31, 2023).

Do I still qualify for loan forgiveness with the new deadline?

Yes. If your repayment is submitted before the new deadline, you will still qualify for a partial loan forgiveness of up to 33%.

What if I want to refinance my loan?

CEBA loan holders who make a refinancing application by January 18, 2024 will now have a refinancing extension until March 28, 2024 and still be able to qualify for the partial loan forgiveness.

What happens if I don't meet the January 18 deadline?

On January 19, 2024, outstanding loans will convert to 3 year term loans, subject to interest of 5% per year. However, the term loan repayment date has been extended by an additional year from December 31, 2025, to December 31, 2026.


If you have any questions about this article, CEBA loans, or any of our related services, please contact one of our Tax experts or complete the contact form below.


Hayden Kuryvial

Hayden Kuryvial

Hayden works with Agriculture and Small Business clients to provide tax and other compliance work, ensuring clients are in optimal financial health.

Service Expertise: Tax
Industry Expertise: Agriculture , Small Business

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