The repayment date for all applicants that meet CEBA eligibility criteria has been amended from December 31, 2022 to December 31, 2023 with the following repayment terms:

Interest

• 0% per annum interest until December 31, 2023.
• 5% per annum interest starting on January 1, 2024; interest payment frequency to be determined by your financial institution.

Repayments & Maturity

• No principal repayment is required before December 31, 2023.
• If the loan remains outstanding after December 31, 2023, only interest payments are required until full principal is due on December 31, 2025.

Debt Forgiveness

• If the outstanding principal, other than the amount of potential debt forgiveness, is repaid by December 31, 2023, the remaining principal amount will be forgiven, provided that no default under the loan has occurred.