The deadline for application has been extended to March 31, 2021.
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.
- Legal business name and "operating as" name, if applicable
- Signing authority name(s), phone number(s), and e-mail address(es)
- 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
- 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.
- What is the status of my application?
- Why was my application declined?
- Why was my submitted document rejected?
We offer term loans for a variety of needs, from equipment purchases to shareholder buyouts.
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.
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.