CEBA Loan Repayment Extension

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The Government of Canada has extended the repayment period for the CEBA Loan to December 31, 2023.

The repayment terms are as follows:

Interest:

• 0% per annum interest until December 31, 2023.

• 5% per annum interest starting January 1, 2024; interest payment frequency to be determined by your financial institution.

Repayments & Maturity:

• No principle repayment required before December 31, 2023.

• If loan remains outstanding after December 31, 2023, only interest payments required until full principle is due on December 31, 2025.

Debt Forgiveness:

• If the outstanding principal, other than the amount of potential debt forgiveness, is repaid by December 31, 2023, the remaining principal amount will be forgiven, provided that no default under the Loan has occurred.