CEBA Loan Repayment Update

September 28, 2023

New CEBA Repayment Deadlines

On September 14, 2023, the Prime Minister announced extended deadlines for Canada Emergency Business Account (CEBA) loan repayments, and additional flexibilities for loan holders looking to benefit from partial loan forgiveness of up to 33 per cent (up to $10,000 for a $40,000 loan, and $20,000 for a $60,000 loan).

What does this mean for you?

The December 31, 2023 repayment deadline has been extended to January 18, 2024 to qualify for partial loan forgiveness.

You may also make a refinancing application with the financial institution that provided your CEBA loan by January 18, 2024. This refinancing extension would push the repayment deadline to qualify for partial loan forgiveness to March 28, 2024.

Loans not repaid by January 18, 2024 (or March 28, 2024 if a refinancing application has been made) will be converted to a three-year 5% term loan. The term loan will require interest only payments with the full principal due December 31, 2026.

More information on the announcement can be found here. Most other CEBA questions may be answered through the CRA's FAQ section, however if you continue to have questions, you may call the CEBA Call Centre at 1-888-324-4201.

Your Ward & Uptigrove Accountant will also be happy to help guide you.

< Older Post

Newer Post >

Southwestern Ontario's Top Employers Award

Southwestern Ontario's Top Employer Award Winner

February 5, 2025

We are th rilled to announce Ward & Uptigrove was selected as a recipient of the Southwestern Ontario's Top Employers Award for 2025. The award is based on the following criteria: 1. Workplace, 2. Work Atmosphere and Social, 3. Health, Financial and Family Benefits, 4. Vacation and Time-Off, 5. Employee Communications, 6. Performance Management, 7. Training and Skills Development, 8. and Community Involvement! Here are some of the reasons why Ward & Uptigrove was selected as one of Southwestern Ontario's Top Employers (2025): Ward & Uptigrove increased its full-time workforce in Canada by over 13 per cent in the past year and lets everyone benefit in the company's success with profit-sharing -- the company also offers generous referral bonuses of up to $5,000 per successful candidate as an incentive for employees to recruit friends Ward & Uptigrove hosts three major social events each year, giving employees the opportunity to unwind and connect with food, beverage and entertainment covered by the firm's partners -- events include a post-tax season party (employees plus a guest), a fall golf tournament, and an annual holiday celebration Ward & Uptigrove matches employee donations in kind, and encourages them to lend a helping hand in the community with a paid day off to volunteer Emily MacRobbie, human resources manager at Ward & Uptigrove, says clients appreciate the close connections and sense of care their small-town environment fosters. “We’re big enough to attract and retain some of the best and brightest minds in the industry, while simultaneously being small enough that staff and clients are known on a more personal level,” says MacRobbie. “Employees really appreciate the flexibility the firm offers, such as work location (in office or hybrid) and hours of work arrangements. We keep a pulse on what’s happening and make sure we remain competitive with things like paid time off and flexible health benefits.” To learn more about career opportunities at Ward & Uptigrove visit www.wardanduptigrove.com/careers