The federal government has extended the Canada Emergency Benefit Account no-interest loan program. On Monday, the government announced that the deadline for new applications is now June 30 instead of March 31. The program has provided $45 billion in credit through more than 850,000 no-interest loans since it was launched last April. Loans of up to $60,000 are available to cover operating costs for businesses that have lost revenue because of the pandemic.
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 an additional $20,000.