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Is your business impacted by COVID-19?

Submit an application for the Canada Emergency Business Account and get up to $40,000 in an interest-free loan.

The new Canada Emergency Business Account (CEBA) will provide interest-free loans of up to $40,000 to eligible small businesses and not-for-profits to h​elp cover their operating costs during a period where their revenues have been temporarily reduced.

To qualify, your organization will need to match certain criteria and apply through our online banking portal. 

Online Application Now Available

Learn more about the program in our FAQ below. 
Applications will only be accepted through our online banking portal.

See instructions below on how to submit your application online. 
Once your application is submitted, a member of our team will follow up with you to gather additional required information.

 If you do not currently have online banking access, please contact us in-branch to get setup.

To learn more about the CEBA program, please visit the Government of Canada's website.

How to submit your CEBA application through online banking: 


1. Log into Online Banking with your Business Account

2. Select Account Services from the lefthand menu

3. Select Canada Emergency Business Application

4. Follow the prompts to enter all of the required information 

5. Hit submit

6. Wait for a member of our team to get in touch with you, to gather additional required information before your application can fully go through

Frequently Asked Questions

Where do I apply for this program? 

You must apply for the program at your main financial institution of record as of March 1, 2020.

How do I obtain an application for the program? 

Applications can only be submitted through our online banking portal, under Account Services. If you do not currently have online banking setup for your business account, please contact us in branch.

Can I go apply for the program at a bank or other credit union?

The loan must be taken out through your primary financial institution. 

​How do I qualify?

All credit-worthy businesses with viable business models whose activities fall within the required government mandates are eligible to benefit from CEBA. Businesses must also be registered in Canada and will need to prove that between $20,000 to $1.5million was paid out in total payroll in 2019. This must be reflected by a 2019 T4 Summary of Remuneration Paid (T4SUM).

Are there specific criteria that need to be met, in order to be eligible for the program? 

When going through the application process, you will need to verify that your business/organization meets the following criteria: 

1.        I have the ability and authority to bind the Borrower.

2.        The Borrower is a Canadian operating business in operation as of March 1, 2020

.3.        The Borrower has a federal tax registration.

4.        The Borrower's Canada Revenue Agency Business Number (BN) (15 digits), as reported at the top of the Borrower's 2019 T4 Summary of Remuneration Paid (T4SUM), is entered correctly.

5.        The Borrower's total employment income paid in the 2019 calendar year was between Cdn.$20,000 and Cdn.$1,500,000.

6.        The employment income reported in Box 14 of the Borrower's 2019 T4SUM is entered correctly.

7.        The Borrower can demonstrate the above information by presenting its 2019 T4SUM when requested upon audit by the Government of Canada or any of its agents.

8.        Per the requirements of the Canada Emergency Business Account Program (the "Program"), as set out by the Government of Canada, the undersigned acknowledges that the funds from this loan shall only be used by the Borrower to pay non-deferrable operating expenses of the Borrower including, without limitation, payroll, rent, utilities, insurance, property tax and regularly scheduled debt service, and may not be used to fund any payments or expenses such as prepayment/refinancing of existing indebtedness, payments of dividends, distributions and increases in management compensation.

9.        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.

10.    The Borrower has not previously used the Program and will not apply for support under the Program at any other financial institution.

11.    The Borrower agrees to participate in post-funding surveys conducted by the Government of Canada or any of its agents.

12.    The Borrower understands that applying for support under the Program at more than one financial institution may result in ineligibility under the Program, default under the facility in respect of which this attestation is being provided, prosecution or other enforcement measures available at law or otherwise.

13.    The Borrower acknowledges its intention to continue to operate its business or to resume operations.

14.    Per the requirements of the Program, as set out by the Government of Canada, the Borrower confirms that:

a.        it is not a government organization or body, or an entity owned by a government organization or body;
b.        it is not a union, charitable, religious or fraternal organization or entity owned by such an organization or if it is, it is a registered T2 or T3010 corporation that generates a portion of its revenue from the sales of goods or services;
c.        it is not an entity owned by individual(s) holding political office; and
d.        it does not promote violence, incite hatred or discriminate on the basis of sex, gender, sexual orientation, race, ethnicity, religion, culture, region, education, age or mental or physical disability.

15.    The undersigned acknowledges that the Lender will rely upon the accuracy of this attestation in making loans and advances to the Borrower pursuant to the Program and acknowledges and agrees that an audit may be conducted by the Government of Canada or any of its agents to ascertain the veracity of this attestation and the eligibility of the undersigned under the Program.

16.    For the purposes of verifying my eligibility for this Program, I hereby authorize Export Development Canada, as my representative with the Canada Revenue Agency, to access any required payroll information.

​What are the details of the loan?

CEBA will provide interest-free loans of up to $40,000 to eligible businesses. To qualify, businesses will need to demonstrate they paid between $20,000 to $1.5million in total payroll in 2019. Repaying the loan on or before December 31, 2022 will result in loan forgiveness of 25% (up to $10,000). The CEBA will be implemented by eligible financial institutions in cooperation with Export Development Canada and the Department of Finance.

​How long will it take me to receive the money after I’ve applied?

Once the online form is available and you have submitted the completed application, your application will be assessed by the government and if approved, money will be deposited in your account, likely within 5-10 business days.

​How is the loan distributed?

The loan will be deposited to your credit union account after the loan is approved. 

​What is the interest rate on the loan?

The $40,000 loan is interest-free and no principle payments will be required until December 31, 2022. $10,000 is eligible for complete forgiveness if $30,000 is fully repaid before December 31, 2022.

What happens if I don't repay the loan back by December 31, 2022?

If the loan is not paid back by December 31st, 2022, it becomes a 3 year term loan with 5% interst and monthly payments. 

Who can I contact for more information?

Please reach out to our Estonian House branch for more information. You can email us at info@northernbirchcu.com or give us a call at 416-465-4659 and someone will get back to you. 

COVID-19 Response

Learn more about how our credit union is responding to COVID-19 and additional relief measures we are offering.

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Have questions? Concerns? We are here to help. Give us a call today, and someone will get back to you.