The CEBA application deadline has passed.

We are reviewing and processing all applications submitted before 11:59 p.m. PT on June 30, 2021. If any additional information or documents are required, either Manulife Bank or the Government of Canada will contact you.

Note: Please wait 5 business days after applying or submitting documents before checking your status. If you have any questions about your pending application, please send us an email.

Repaying your CEBA loan

CEBA loans are interest-free until December 31, 2022 and payments aren’t required until January 1, 2023. However, you can start repaying your loan at any time.

To make payments, call us at 1-877-765-2265. Payments must be made from your Manulife Bank account.

Debt forgiveness

Your debt forgiveness terms will vary based on the size of your CEBA loan:

Debt forgiveness for $40,000 CEBA loans

  1. If your business repays $30,000 of your loan by December 31, 2022, the Government of Canada will forgive the remaining $10,000.
  2. If your business can’t repay $30,000 of your loan by December 31, 2022, the remaining balance converts to a 3-year term loan with an interest rate of 5% per annum starting January 1, 2023.

Debt forgiveness for $60,000 CEBA loans

  1. If your business repays $40,000 of your loan by December 31, 2022, the Government of Canada will forgive the remaining $20,000.
  2. If your business can’t repay $40,000 of your loan by December 31, 2022, the remaining balance converts to a 3-year term loan with an interest rate of 5% per annum starting January 1, 2023.

Additional information

  1. The forgivable portion of the CEBA loan ($10,000 or $20,000) is taxable in the year you received the loan.
  2. If your loan converts to a 3-year term loan, you must start making monthly interest-only payments in January 2023. No principal payments are required until December 31, 2025, when the entire loan and all unpaid interest is due.