Has the deadline to repay my CEBA loan been extended?
During the Omicron surge the government announced that the repayment deadline for CEBA loans to qualify for partial loan forgiveness had been extended from December 31, 2022, to December 31, 2023, for all eligible borrowers in good standing.
Repayment on or before the new deadline of December 31, 2023, will result in loan forgiveness of up $20,000. Any outstanding loans will subsequently convert to two-year term loans with interest of 5 per cent per annum commencing on January 1, 2024, with the loans fully due by December 31, 2025.
