Canada Emergency Business Account

Start your Application

TCU Financial Group is now accepting applications for the Canada Business Emergency Account (CEBA). Our dedicated, local Business Solutions Team is here to help. Contact us today to find out more about CEBA.

Program Details

CEBA is a program created by the Government of Canada in partnership with Export Development Canada (EDC) to provide small businesses access to capital to help them through the current challenges of COVID-19.

CEBA provides a $40,000 interest-free loan to small businesses and not-for-profits to help cover their operating costs where revenues have been temporarily reduced due to the economic impacts of COVID-19.

Small business owners who repay the balance of the loan on or before December 31, 2022 will receive a loan forgiveness of 25% (up to $10,000).

For more information about Government of Canada COVID-19 programs visit their website.

Update: The Government of Canada has announced that there will be changes to the eligibility requirements for CEBA. Please visit the Government of Canada's website for more information and changes. We are currently not taking applications for CEBA under any new eligibility requirements. We are working diligently with our partners to provide CEBA under new eligibility requirements.

The CEBA Application Process*

  • Submit your CEBA application through our online portal.
  • A TCU Financial Group representative will contact you to verify your application.
  • We will send your application to the Government of Canada on your behalf.
  • TCU Financial Group will work with the Government of Canada to process your application. It may take up to 5 business days to process your application.
  • You will be notified when funds are available in your chequing account.

*Process and eligibility may be subject to change.

We are here to help

Who is eligible? Expand/Collapse

The Government of Canada has outlined the eligibility requirements for who is eligible for CEBA. 

  • The Borrower is a Canadian operating business in operation as of March 1, 2020.
  • The Borrower has a federal tax registration.
  • The Borrower’s total employment income paid in the 2019 calendar year was between $20,000 CAD and $1,500,000 CAD.
  • The Borrower has an active business chequing/operating account with the Lender, which is its primary financial institution. This account was opened on or prior to March 1, 2020 and was not in arrears on existing borrowing facilities, if applicable, with the Lender by 90 days or more as at March 1, 2020.
  • The Borrower has not previously used the Program and will not apply for support under the Program at any other financial institution.
  • The Borrower acknowledges its intention to continue to operate its business or to resume operations.
  • The Borrower agrees to participate in post-funding surveys conducted by the Government of Canada or any of its agents.

Due to the evolving situation of COVID-19, these conditions may be subject to change. Visit the Government of Canada's website for the most up to date information.

How do I prepare for my application? Expand/Collapse

We recommend you compile these documents before starting your application.  

  • Locate your 2019 T4 Summary of Remuneration Paid statement. You can contact the Canada Revenue Agency to have them re-issue your 2019 statement
  • Your employer account number, as reported at the top of your 2019 T4 Summary of Remuneration Paid
  • Your employment income reported in Box 14 of your 2019 T4 Summary of Remuneration Paid
  • A copy of your 2019 T4 Summary of Remuneration Paid may be requested by TCU Financial Group and the Government of Canada

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