The latest extension to the Canada Emergency Business Account (CEBA) could provide relief for Canadian charities. By extending the repayment deadline and offering a refinancing option, the government has provided these eligible organizations with valuable extra time to recover from the financial straits brought about by the pandemic.<\/p>\n\n\n\n
First introduced in 2020, the CEBA program provided eligible small businesses and not-for-profits interest-free loans to help cover their operating costs during a period where their revenues had been temporarily reduced, due to the economic impacts of COVID-19.<\/p>\n\n\n\n
The repayment deadline to qualify for partial loan forgiveness of up to 33 per cent had previously been extended from December 31, 2022, to December 31, 20231<\/sup>. The government is now extending it further to January 18, 2024. The Department of Finance has announced, \u201cFor CEBA loan holders who make a refinancing application with the financial institution that provided their CEBA loan by January 18, 2024, the repayment deadline\u2026now includes a refinancing extension until March 28, 2024.\u201d2<\/sup> _______________________________________________________<\/p>\n\n\n\n 1 <\/sup>Department of Finance Canada: Government extends loan forgiveness repayment deadline for the Canada Emergency Business Account<\/a> The latest extension to the Canada Emergency Business Account (CEBA) could provide relief for Canadian charities. By extending the repayment deadline and offering a refinancing option, the government has provided these eligible organizations with valuable extra time to recover from the financial straits brought about by the pandemic. First introduced… More<\/a><\/p>\n","protected":false},"author":9,"featured_media":37116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ts_fic_featured_image_caption":"Picture of Canadian money, bills and coins","footnotes":""},"categories":[137],"tags":[717,240,435,497],"series":[],"class_list":["post-37114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-ceba","tag-charities","tag-covid-19","tag-federal"],"_links":{"self":[{"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/posts\/37114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/comments?post=37114"}],"version-history":[{"count":0,"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/posts\/37114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/media\/37116"}],"wp:attachment":[{"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/media?parent=37114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/categories?post=37114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/tags?post=37114"},{"taxonomy":"series","embeddable":true,"href":"https:\/\/cccc.org\/news_blogs\/wp-json\/wp\/v2\/series?post=37114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For more details on this change including the interest rate and repayment terms for those granted a refinancing extension, see the announcement from the Department of Finance here<\/a>.<\/p>\n\n\n\n
2<\/sup> Department of Finance Canada: Canada Emergency Business Account: Government extends repayment and partial loan forgiveness deadlines<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"