CEBA Repayment

Canadian Emergency Business Account (CEBA) program

Administered by Export Development Canada (EDC), the CEBA program offers interest-free loans to eligible businesses, with a maximum amount of $60,000. By repaying the loan balance to the Government of Canada by January 18 2024, a loan forgiveness of 33 percent (up to $20,000) can be obtained.

The loan carries no interest until December 31, 2023, and borrowers have the option to make voluntary principal repayments at any time without incurring fees or penalties.

Easy Application Process

At Kingsmen Capital our application process for CEBA repayment is quick and straightforward. We could save you up to $14,000

Flexible Payments

We have flexible terms and payments that we can work around to make sure your needs are met.

Quick Funding

We understand you need to pay back the CEBA loan and the deadline is fast approaching. We can get you approved within 48 hours!

For Ceba loans advanced for $60,000 borrowers may qualify for up to $20,000 loan forgiveness if they repay $40,000 by January 18, 2024.

Similarly, for CEBA loans advanced for $40,000, borrowers may qualify for up to $10,000 loan forgiveness if they repay $30,000 by January 18, 2024.

If the loan balance is not settled by January 18, 2024, a 5% annual interest will be charged, payable monthly, starting from January 1, 2024.
The entire loan balance (including principal and interest) must be repaid no later than December 31, 2025.

Example:
If you have borrowed $60,000 and find it challenging to meet the minimum repayment requirement for your CEBA loan by 2023, the federal government will assign you to a 5 year repayment plan.

Here’s how it works:

You will need to repay the $60,000 principal amount over a minimum period of 3 years with a 5% interest rate resulting in a minimum of $6,000 in interest changes.

However, with Kingsmen Capital CEBA Program you can repay $40,000 of the loan over a period of 18 months which could be as low as $46,000. We could save you  as much as $14,000.