The CEBA payment is due by January 18, 2024. If you don’t make the payment on time, then you do not get the grant portion. However, there is an exception.

If you are in the process of negotiating the loan which will replace the CEBA loan on January 18, then you have another two months to finish negotiating that loan. But, you have to be in negotiations with the bank by January 18. If you are not going to be able to pay your CEBA by January 18, then you should contact your bank right this minute and get a plan together for refinancing that loan.

If the bank will lend you the money to pay the CEBA loan, then you will still qualify for the grant portion. If you cannot get the loan refinanced, then you will not get the grant, but you will be able to repay the total CEBA loan with interest at 5%.

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