Canada Emergency Business Account

Learn more about, and apply for, the Canada Emergency Business Account (CEBA) for small businesses. 

NEW: CEBA eligibility has expanded even more.

Check the new requirements to see if your business is now eligible.

Supporting our small business customers

On March 27, Prime Minister Trudeau announced the Canada Emergency Business Account (CEBA) to support businesses with non-deferrable expenses through this time. Scotiabank, together with other financial institutions has been consulted by the government on these measures, designing them specifically to help small business owners with their most pressing needs and position the economy for recovery.

On May 19, Prime Minister Trudeau announced enhancements, expanding the eligibility of the Canada Business Emergency Account to also include a broader range of businesses.

If you are a qualifying small business customer, the CEBA program provides access to a $40,000 loan:

  • 0% interest until December 31, 2022.

  • No principal payments until December 31, 2022. 

  • Principal repayments can be voluntarily made at any time without fees or penalties.

  • $10,000 loan forgiveness is available, provided $30,000 is paid back prior to December 31, 2022.

  • If the balance is not paid by December 31, 2022, the remaining balance will be converted to a 3-year term loan at 5% annual interest, paid monthly, effective January 1, 2023.

  • The full balance must be repaid by no later than December 31, 2025. 

Note: Once your CEBA application is approved and verified by the Government of Canada (process is expected to take up to 10 business days), your new CEBA loan will be set up and then appear on your Scotia OnLine profile as a “ScotiaLine for business VISA”. Within 3 business days $40,000 will be deposited automatically into the operating account you designate in the application.  Please note there is no revolving feature on this product, and once the money is repaid, you will not be able to re-advance funds again. Any payments made to CEBA loans prior to December 31, 2020 will be re-advanced centrally on a biweekly basis.

For more details on the CEBA program, click here.    

Additional relief measures for small business customers

Please contact your Small Business Advisor, Branch Manager, Agriculture Specialist or Healthcare & Professional Specialist, if your business is experiencing financial hardship as a result of COVID-19.

We will work with you, individually, to offer advice and assistance with liquidity and financial covenant relief, including temporary lending payment deferrals or other forms of short-term support to customers who meet required qualifications.

For customers who are ineligible for CEBA, you may be able to benefit from government funding recently made available through the Regional Relief and Recovery Fund (RRRF). For more information on funding that may be available to you through your regional development agency, please visit:

Canada Emergency Business Account FAQs

Eligibility for Canada Emergency Business Account FAQs