Business and Agriculture Loans

The deadline for application has been extended to June 30, 2021.

General

CEBA provides interest-free loans of up to $60,000 to small businesses and non-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced, due to the economic impacts of COVID-19. Interested businesses should contact their primary business financial institution for further information and to apply for the program.

As per the requirements of the program set out by the Government of Canada, the Borrower must agree to use the funds from this loan to pay for operating costs that cannot be deferred such as payroll, rent, utilities, insurance and property tax. They may not be used to fund any payments or expenses such as prepayment/refinancing of existing debts, payments of dividends, or increases in management compensation.

Qualification Criteria

Businesses will be eligible to apply for this loan if they meet the following criteria:

  • The Borrower is a Canadian operating business in operation as of March 1, 2020.
  • The Borrower has a federal tax registration.
  • The Borrower’s total employment income paid in the 2019 calendar year was between Cdn.$20,000 and Cdn.$1,500,000. For applicants with Cdn.$20,000 or less in total employment income paid in the 2019 calendar year:
    • 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 Borrower has an active business chequing/operating account with the Lender, which is its primary financial institution. This account was opened on or prior to March 1, 2020 and was not in arrears on existing borrowing facilities, if applicable, with the Lender by 90 days or more as at March 1, 2020.
  • The Borrower has not previously used the Program and will not apply for support under the Program at any other financial institution.
  • The Borrower acknowledges its intention to continue to operate its business or to resume operations.
  • The Borrower agrees to participate in post-funding surveys conducted by the Government of Canada or any of its agents.

Application Process

If you wish to apply for a CEBA loan, please e-mail your request to Business Banking at Christian Credit Union. Before applying, please check your eligibility using the CEBA Pre-screen Tool.



Your e-mail must include the following information:

  • Legal business name and "operating as" name, if applicable
  • Signing authority name(s), phone number(s), and e-mail address(es)
Upon receipt of your e-mail request you will be contacted by a member of our Business Banking team. Please have the following information ready:
  • CRA Business Number (BN 15 characters - 9 digits, 2 alpha, 4 digits)
  • 2019 T4 SUM (Box 14 of 2019 T4 SUM)
  • Applicants with payroll lower than $20k in 2019 will need the following: 
    • Business operating account at a participating FI 
    • Canada Revenue Agency Business Number – 9 digits 
    • 2018 or 2019 Income Tax Return (not a Notice of Assessment) for Sole Proprietorships and Partnerships 
    • T2 for Incorporated Companies 
    • Eligible non-deferrable expenses between $40k & $1.5 MM 
  • Once we have all of the required information, you’ll receive an email from DocuSign with a CEBA Term Loan Agreement and Schedule A – Attestation of the Borrower.
  • You will sign the documents electronically. Once your loan application has been approved and submitted, funds will be deposited into your account within 15-20 business days.

Checking Your Status

If you have already applied and would like to check on the status of your application, please use the CEBA self-serve status checking tool.
Repaying Your CEBA Loan
  • Payment can be made for a portion of the loan or the total loan amount.
  • Please send your payment request to the Business Banking team at Christian Credit Union.
  • Please note that payment requests received after 3pm will be processed on the next business day.


If you have any questions about your application, please contact the new CEBA Call Centre at 1.888.324.4201. The CEBA call centre is open Monday to Friday from 8:00 am to 9:00 pm EST and can address the following types of questions:
  • What is the status of my application?
  • Why was my application declined?
  • Why was my submitted document rejected?
For more information, visit the Government of Canada CEBA website page.

Term Loans

We offer term loans for a variety of needs, from equipment purchases to shareholder buyouts.

Short-term Loans

For your under 12 month borrowing needs.

Evergreen Equipment Loan

Evergreen financing offers pre-approved cash throughout the year without the hassle of multiple loan applications.

Small Business Loan Program (SBLP)

For businesses with borrowing needs of $150,000 or less, our SBLP offers a quick and streamlined loan approval process.

Operating Lines

Revolving lines of credit to carry the day to day operations of your business.

Lines of Credit

LOC’s that can be customize to suit your needs with either fixed repayment or interest only options.

For construction contract bidding, new home warranty, landscaping and more.

Business and Non-Profit Banking


Melissa Wielenga

Business Banking Advisor

Craig Panek, BComm

Business Banking Advisor

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