Canada Emergency Business Account (CEBA)


The Government of Canada implemented changes to CEBA program by increasing the maximum loan amount to $60,000 to provide more support to Canadian businesses during these financially difficult times.

  • CEBA program is no longer accepting new application as of Jun 30, 2021

Please refer to “More Details about CEBA” below or the government website at

CEBA Call Centre

As part of the response to frustrations and concerns regarding CEBA, the Government has opened a Call Centre.

  • Contact Number: 1-888-324-4201
  • Hours of Operation: Monday to Friday, from 8 am to 9 pm EST

Due to large volume of inquiries, please call only when the Bank cannot address your questions/concern on CEBA, or when your application was submitted more than 15 days ago but no further update has been made to the application status.


Government of Canada introduced Canada Emergency Business Account (CEBA) to provide emergency funds to small businesses that have experienced decline in income as a result of the COVID-19 pandemic. The program will provide loans up to $60,000 for small business, and maximum of $20,000 loan forgiveness may be applied for early repayments. For borrowers who already have $40,000 CEBA loan, $20,000 additional loan will be available.

  • A $60,000 interest-free loan with no obligation for principal payment until December 31, 2022
  • Voluntary principal payment can be made without fees or penalties
  • If the total voluntary principal payments made on or prior to December 31, 2022 is $40,000, the remaining balance of the loan ($20,000) will be forgiven
  • If less than $40,000 voluntary principal payments were made on December 31, 2022, the remaining balance of the loan will be converted to a 3 year term loan at 5% per annum interest, paid monthly
  • Full balance must be repaid by December 31, 2025

How to apply

CEBA program is no longer accepting new application as of Jun 30, 2021

More details about CEBA

In order to apply for CEBA, you must receive a 10 digit Pre-screen Number from The website only assess the eligibility for CEBA, and the pre-screen number does not guarantee approval for CEBA.

Canadian Small Business customer that meets criteria below will be eligible for the program.

  • Eligibility Type #1 (Payroll Stream)
    • Your total employment income paid in the 2019 calendar year was greater than $20,000 and less than $1,500,000
    • The tax report for the year 2019 has been filed.
  • Eligibility Type #2 (Non-Deferrable Expense Stream)
    • Your total employment income paid in the 2019 calendar year was $20,000 or less.
    • The total incurred and projected “Eligible Non-Deferrable Expensesthat you were or are legally or contractually obligated to pay in the 2020 calendar year are more than $40,000, after exclusion of net  “Excluded Benefits
    • The tax report for the year 2018 or 2019 has been filed.
  • Other Eligibility Criteria (applies to both Type #1 and #2)
    • You must have a Business Account with SHBC. (Opening a new business account qualifies for CEBA)
    • Your business has an active CRA Business Number (BN) that was registered before or on the day of March 1st, 2020.
    • Your business has a Federal tax registration and has a Canada Revenue Agency Business Number (BN) (15 digits)
    • Your business has not previously used CEBA with SHBC, and is not applying and will not apply for support under CEBA at any other financial institution.
  • What documents do I need to open a Business Account?
    • For Corporation:
      1. Article of Incorporation
      2. Valid ID and SIN card of shareholders who hold more than 25% share of the company
      3. Shareholder’s information ( Schedule 50 of T2, or a Singed Letter from an Accountant or a Lawyer)
      4. Master Business License(Optional)
      5. Financial Statement or Notice of Assessment for recent 2years.
    • For Individual Business:
      1. Master Business License
      2. SIN Card & Valid Photo ID
      3. Most recent T1 General

Eligible Non-Deferrable Expenses
“Eligible Non-Deferrable Expenses” means the following expenses (and only the following expenses) incurred or to be incurred in 2020 provided that they are not deferrable after 2020:

(i) wages and other employment expenses to independent (arm’s length) third parties;
(ii) rent or lease payments for real estate used for business purposes;
(iii) rent or lease payments for capital equipment used for business purposes;
(iv) payments incurred for insurance, related costs;
(v) payments incurred for property tax and taxes;
(vi) payments incurred for business purposes for telephone and utilities in the form of gas, oil, electricity, water and internet;
(vii) payments for regularly scheduled debt service;
(viii) payments incurred under agreements with independent contractors and fees required in order to maintain licenses, authorizations or permissions necessary to conduct business by the Borrower;
(ix) any other expense in a category other than the above as may be indicated by Government of Canada

Payments or expenses such as prepayment/refinancing of existing indebtedness, payments of dividends, distributions and increases in management compensation are NOT eligible non-deferrable expenses.


Excluded Benefits

“Excluded Benefits” means the aggregate amount of the benefits the you have received, or is expecting to receive by December 31, 2020, in support or subsidies under any other Government of Canada COVID response program such as:

Canada Emergency Wage Subsidy, 10% Temporary Wage Subsidy, Canada Emergency Commercial Rent Assistance, Regional Relief and Recovery Fund, Futurpreneur Canada, Northern Business Relief Fund, Fish Harvester Grant, relief measures for Indigenous businesses, and $250 million COVID-19 IRAP (Industrial Research Assistance Program) Subsidy Program and Canada Emergency Rent Subsidy

Each business that has an active business operating account at SHBC and meets all the government eligibility criteria is eligible for CEBA.

The person applying for CEBA has to have the ability and authority to bind the business, as well as the authority to attest on behalf of the organization.

  • Unions, charitable, religious or fraternal organizations or entity owned by such an organization or if it is, it is a registered T2 or T3010 corporation that generates a portion of its revenue from the sales of goods or services
  • Government organizations or bodies, or entities owned by a government organization or body
  • Entity owned by individuals holding political office
  • Entity structured as a holding company
  • Entity that promote violence, incite hatred or discriminate on the basis of sex, gender, sexual orientation, race, ethnicity, religion, culture, region, education, age or mental or physical disability

CEBA is a government-led program. There will be no exception to the eligibility of applicant.

For more information, please visit

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