The repayment deadline for outstanding #CEBA loans is one week away!
Small to medium sized businesses that repay by January 18, 2024 qualify for partial loan forgiveness up to 33%. There is still time for businesses to submit a refinancing application before this deadline which gives them until March 28, 2024 to repay.
#Businesses with an outstanding loan on January 19, 2024, will see it converted to a three-year term loan subject to interest at 5% per year—the repayment date is then extended a year to December 31, 2026 (from December 31, 2025).
Learn more below.
⚠️Deadline reminder⚠️
If you're a small business that took out a CEBA loan, the extended deadline to qualify for partial loan forgiveness is January 18.
Find out more on the repayment rules: https://ow.ly/Nq8i50QpJ8U
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2moGreat news!