Canada Emergency Business Account (CEBA)

Crosstown Civic Credit Union (CCCU) is supporting our small business members that are impacted as a result of COVID-19 by providing access to Canada Emergency Benefit Account Funds in cooperation with the Federal Government and Export Development Canada.

To qualify, CCCU needs to be identified as your primary financial institution. This means that you use a CCCU business operating account, opened on or before March 1, 2020, for day-to-day payments and/or cash management activities. If CCCU isn’t your primary bank, apply through the financial institution that holds your primary business operating account.

The Canada Emergency Business Account (CEBA) provides a $40,000 loan for eligible small businesses and not-for-profit members. This federal program is designed to help cover operating costs for organizations experiencing temporary revenue reductions.

The Canada Emergency Business Account will provide a $40,000 loan:

  • at 0% interest until December 31, 2022
  • requires no minimum monthly principal payments until December 31, 2022
  • $10,000 loan forgiveness is available provided outstanding balance is fully paid on or before December 31, 2022.
  • If the loan is not repaid by December 31, 2022, it will be converted into a 3 year term bearing an interest rate of 5% per annum
  • Outstanding principal of the loan must be fully repaid by December 31, 2025

The CEBA program has been extended to December 31, 2020.
Please continue to our application page below to review criteria and download application forms.

All frequently asked questions and general eligibility requirements can be found on the Government’s website at

We thank you for your patience
while we work through additional call
and email volume from our members.

Effective Thursday, November 12th, all branches will serve members by phone or appointment only. While we will not be open to walk-in traffic, we are still here to help, just in a slightly different way. Learn more.