The federal government has announced that the deadline to apply for an interest-free, partially forgivable loan through the Canada Emergency Business Account (CEBA) program is being extended from March 31 to June 30, 2021.
This deadline extension applies to any new applications for CEBA loans of $60,000 or to new applications from businesses that have already received the $40,000 loan and intend to apply for the additional $20,000.
The extension will allow more businesses to access the support they need as Canada’s economy continues to deal with localized public health restrictions and, for a number of businesses, reduced opening hours or reduced demand for services. Extending the application deadline to June 2021 also aligns CEBA with the timelines of other federal government support programs for business.
Restaurants Canada is continuing to advocate for all federal support programs, including the rent and wage subsidies, to continue through to April 2022, because many restaurants could take that long — or longer — to return to profitability. We’re also calling for government-backed loans through the Highly Affected Sectors Credit Availability Program (HASCAP) to be partially forgivable, so that struggling foodservice businesses aren’t forced to close down due to crushing debt.
To apply for a CEBA or HASCAP loan, or to learn more about these programs, businesses can contact their primary financial institution. Businesses can also visit the following websites to learn more about these programs:
Restaurants Canada encourages any members who experience any trouble with the application process for either of these programs to reach out to us so that we can raise your concerns directly to government.