Business and Agriculture Loans

COVID-19Canada Emergency Business Account

Deadline for application is Thursday, October 29 at noon.


CEBA provides interest-free loans of up to $40,000 to small businesses and non-for 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.

Loan Details

The loan will be funded as a $40,000 term loan to approved businesses, at 0% interest. Repaying $30,000 of the loan on or before December 31, 2022 will result in loan forgiveness of 25% ($10,000). The loan is interest-free until December 31, 2022 and no principal repayments are required during this period, unless the Borrower is seeking to repay 75% of the loan to qualify for the 25% forgiveness. 

If a Borrower cannot repay the loan by December 31, 2022, it can be converted into a 3-year term loan at an interest rate of 5%. The full balance and all accrued interest must be paid no later than December 31, 2025. While no principal repayments are required until December 31, 2025, it is always good practice to make steady payments to match the incoming cash flows from business operations.

Application Process

If you wish to apply for a CEBA loan, please e-mail your request to

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.

 If you have already applied for CEBA and have questions, please contact the new CEBA Call Centre at 1.888.324.4201 to receive a status update on your CEBA application. 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.

Learn More


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.

Lines of Credit

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.

Letters of Credit

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

Business and Non-Profit Banking

  • Melissa Wielenga

    Business Banking Advisor

    Melissa Wielenga


  • Craig Panek, BComm

    Business Banking Advisor

    Craig Panek, BComm