Canadian Emergency Business Account

The deadline for applications for the Canada Emergency Benefit Account has been extended to June 30, 2021. 

Business Support

On March 27th, 2020, the Government of Canada announced a new Canada Emergency Business Account (CEBA), which will provide government guaranteed interest-free loans up to $40,000 to small businesses and not-for-profits. The intention of this loan is to help businesses affected by COIVD-19 to cover their operating costs during a period where revenue may be reduced.

As of December 4, 2020, CEBA loans for eligible businesses has been increase from $40,000 to $60,000. New applications will be for $60,000 in financing through the CEBA program. CEBA applications who previously received the $40,000 CEBA loan can now apply for the $20,000 expansion.

WHAT IS THE CEBA LOAN & HOW DOES IT WORK?

  • Up to $60,000 interest-free (until December 31, 2022) government guaranteed loan to help you cover operating expenses, payroll and other non-deferrable costs you were not able to defer because of COVID-19
  • 0% interest and no payments until December 31, 2022
  • Repay enough of your loan to meet the repayment requirements on or before December 31, 2022 will result in loan forgiveness (up to $20,000)
  • If you do not repay enough of your loan to meet the requirements for receiving forgiveness by December 31, 2022, the remaining balance will be converted into a 3-year loan with an interest rate of 5% per annum, paid monthly. The full balance including all accrued and unpaid interest must be repaid no later than December 31, 2025.
  • Full additional information on the CEBA loan including eligibility, and applying, please visit CEBA Questions.

HOW DO I APPLY?

Businesses operating from a personal account are now eligible to apply for CEBA. Before going through the CEBA process, Lafleche Credit Union is asking that these members complete the CEBA Pre-Screen tool to determine your eligibility and the validity of your non-deferrable expenses.  After you receive your CEBA Pre-Screening Confirmation number, please contact a lender at either our Lafleche or Glentworth branch. Our lenders will assist you through the required business account opening process. Once your business account is open, then you can apply for CEBA.

Click on link to apply for CEBA now: Lafleche Credit Union CEBA Application.

If your business is eligible through Non-Deferrable Expenses.  Remember to upload supporting documents to the government through this link for review.  Click here for a list of eligible non-deferrable expenses.

Lafleche Credit Union would like our members to know that we are here for you. We are committed to providing flexible solutions to help you through this challenging time.

Contact the CEBA Call Centre at 1-888-324-4201 to receive a status update on your CEBA application. If you have further questions, please visit CEBA Questions. Continue to check back at this page for more information as it becomes available.


LAFLECHE MAIN BRANCH

105 Main Street
Lafleche, Saskatchewan
S0H 2K0
Tel: (306) 472-5215
PO Box: 429

Hours of Operation:

9:00 - 4:00 Monday to Friday

GLENTWORTH BRANCH

111 Main Street
Glentworth, Saskatchewan
S0H 1V0
Tel: (306) 266-4821
PO Box: 128

Hours of Operation:

9:00 - 12:00, 1:00 - 4:00
Monday to Friday