Find out if you’re eligible and how to access this $40,000 loan, interest-free until December 31, 2022.

Coast Capital Savings is pleased to announce that we now accept applications for the Federal Government’s Canada Emergency Business Account (CEBA).

This program was developed in partnership and consultation with the federal government and Canadian financial institutions, all focused on bringing financial relief to the business community of Canada during this time of uncertainty.


Browse below to learn more about CEBA



Latest Updates
Last updated: May 30, 2020

On May 19, the Canadian government expanded the Canada Emergency Business Account program to include businesses with payrolls lower than $20,000. The Government of Canada is still finalizing the details.  Please keep an eye on this page, as we will update it when we have more information.



Through the CEBA program, eligible businesses and non-profits can access*:

  • A $40,000 loan to help cover non-deferrable operating costs while their businesses are affected by COVID-19. The loan would be interest-free until December 31, 2022.
  • If at least 75% of the loan balance is fully repaid by December 31, 2022, the remaining 25% (up to $10,000) may be forgiven.
  • If not repaid by December 31, 2022, the loan will be extended to December 31, 2025 at 5% interest.



Through the CEBA program, eligible businesses and non-profits can access*:

  • A $40,000 loan to help cover non-deferrable operating costs while their businesses are affected by COVID-19. The loan would be interest-free until December 31, 2022.
  • If at least 75% of the loan balance is fully repaid by December 31, 2022, the remaining 25% (up to $10,000) may be forgiven.
  • If not repaid by December 31, 2022, the loan will be extended to December 31, 2025 at 5% interest.

To be eligible, you must have been an existing active business client of Coast Capital Savings on March 1, 2020, who meets all of the criteria for the program set by the Government of Canada, as follows:

  • You are an existing Canadian borrowing or non-borrowing client of Coast Capital Savings;
  • The program includes unions, charitable, religious or fraternal organizations or clients owned by such an organization if they have filed their T2 return or T3010 return and they generate a portion of their revenue from the sales of goods or services;
  • You have a registered business chequing/operating account with Coast Capital Savings, which is your primary financial institution. You were not in arrears under any existing credit facilities, if applicable, with Coast Capital Savings for 90 days or more as at March 1, 2020;
  • You have a Federal tax registration;
  • You have a Canada Revenue Agency Business Number (BN) (15 digits), as reported at the top of your 2019 T4 Summary of Remuneration Paid (T4SUM);
  • Your employment income reported on all employee T4 slips for 2019 is between $20,000 and $1,500,000, as reported in Box 14 of your 2019 T4SUM plus any tax-exempt employment income under the Indian Act reported in Box 71 of all T4 slips issued to employees for 2019;
  • You have not previously used CEBA in connection with any credit facility established with Coast Capital Savings or any other financial institution, and you are not applying for support under such program at any other financial institution; and
  • You must make an attestation to confirm that you are a qualifying borrower and agree to participate in post-funding surveys and audits to confirm the accuracy of the contents of the attestation.

Full details can be found on the CEBA Application form.

Digital Banking Digital Banking

The fastest way to apply is through Coast Online Banking:

Step 1

Sign in to Online Banking


Step 2

In the menu, click CEBA Application under Products & Services

Please note that the application is not available through our mobile app.

If you do not use Coast Online Banking or are unable to locate the application through your online account, please apply here. If you have difficulty accessing that form, please contact your Small Business Relationship Manager for assistance.

We are expecting a high volume of requests for this program, and our dedicated business team members are urgently processing applications in the order they are received. You should expect to hear from us by email within five business days after we receive your application. We appreciate your patience through this process. Please note, applications cannot be taken in-branch or by phone at this time.



The fastest way to apply is through Coast Online Banking:

Step 1

Sign in to Online Banking


Step 2

In the menu, click CEBA Application under Products & Services

Please note that the application is not available through our mobile app.

If you do not use Coast Online Banking or are unable to locate the application through your online account, please apply here. If you have difficulty accessing that form, please contact your Small Business Relationship Manager for assistance.

We are expecting a high volume of requests for this program, and our dedicated business team members are urgently processing applications in the order they are received. You should expect to hear from us by email within five business days after we receive your application. We appreciate your patience through this process. Please note, applications cannot be taken in-branch or by phone at this time.


Yes. These programs are independent of each other and you can still enrol in CEBA.
No, CEBA is only available to business members who meet the eligibility requirements as set out by the federal government. One of the criteria for the program is that the borrower must have a business account with its financial institution. The government has announced additional relief measures to support sole proprietors. For further information, please visit the Government of Canada’s COVID-19 Economic Response Plan site.
The individual applying for and enrolling your organization in CEBA will need to have the authority to sign on behalf of and bind the organization to the terms of the CEBA loan agreement. If your organization currently requires consent of more than 1 director or officer to bind the organization, the organization is responsible for preparing and approving a resolution that allows the individual applying for the loan to be given this authority prior to submitting the application. We cannot accept multiple signatures.
Yes. Each business entity is able to enrol in CEBA, subject to each business individual meetings the eligibility requirements.

No. You can only enroll in CEBA once for your business, at your primary financial institution. Applying at more than one financial institution may result in legal prosecution by the federal government and you may be required to immediately repay any loans.

  • Businesses not meeting all eligibility criteria
  • Government organizations or bodies, or entities owned by a government organization or body
  • Unions, charitable, religious or fraternal organizations or entities owned by such organizations except registered organizations that have filed their T2 return or T3010 return and that generate a portion of their revenue from the sales of goods or services
  • Entities owned by any Federal Member of Parliament or Senator
  • Entities that promote violence, incite hatred or discriminate on the basis of sex, gender identity or expression, sexual orientation, colour, race, ethnic or national origin, religion, age or mental or physical disability, contrary to applicable laws

Please carefully review the eligibility criteria. You will be required to attest that you meet all eligibility criteria and this is subject to verification and audit.

If you cannot access our online application through either Online Banking or the coastcapitalsavings.com/CEBAApplication link, please contact your Small Business Relationship Manager for assistance.  Please note, however, that applying online is the fastest way to get access to this program.

You are required to meet all eligibility criteria for the loan, as detailed in the application, including an acknowledgment that the funds from this loan will only be used to pay for non-deferrable operating expenses. In the application, you will be required to make an attestation that you meet these criteria, which is subject to verification and audit. All applications are subject to approval and funding availability through the CEBA program.

The CEBA eligibility criteria have been set by the federal government. For questions related to the government’s eligibility criteria, please visit www.CEBAquestions.ca, a website set up by Export Development Canada, the program’s administrator, for this purpose.
Given the unpredictability of the COVID-19 pandemic, it may make sense for you to hold on to your CEBA funds as a contingency, especially as the loan is interest-free until December 31, 2022.  More details on the repayment process will be coming soon.

* Terms and conditions apply. Applications subject to approval and to funding availability and eligibility criteria of the Canada Emergency Business Account program.