The Government of Canada Canada Emergency Business Act (CEBA) loans will be due December 2023.

If you are a recipient of this loan, it is important that you start planning now for how you will pay it back. Meeting with your accountant can help you determine a plan to repay the loan amount so that you can keep the additional money for your business.

Repayment on or before the deadline of December 31, 2023, will result in loan forgiveness of up to a third of the value of the loans (meaning up to $20,000).

Don’t wait until the deadline approaches – make sure you have a plan in place now.