• It’s a $60,000 loan to help eligible businesses pay for operating expenses, payroll and other non-deferrable expenses which are important for business continuity.
• Until December 31, 2022, the Canada Emergency Business Account will be funded as a term loan with no interest and no payments.
• Beginning January 1, 2023, interest accrues on the balance of the term loan at the rate of 5% per annum, payable monthly on the last day of the month.
• If you pay 75% of the balance of the term loan on or before December 31, 2022, the remaining balance of your term loan will be forgiven.  For example, if your balance is $60,000 on January 1, 2021 and you repay $40,000 on or before December 31, 2022, the remaining $20,000 will be forgiven.
• If you do not repay the 75% of the balance of the term loan on or before December 31, 2022, the full loan balance and all accrued and unpaid interest will be due and payable on December 31, 2025.
• Once your loan application has been reviewed and submitted the process for funding will take up to 10-15 days from completion.  

There are 2 ways to apply based on your organization’s circumstances:

• Simplified payroll-based
  • Businesses with annual payroll between $20,000 and $1.5 million based on the sum of all employment income reported on all employee T4s for 2019.
• Non-deferrable expense-based
  • Businesses with annual payroll less than $20,000 during 2019 and eligible non-deferrable expenses for 2020 projected to be between $40,000 and $1.5 million.
  • Click here for a list of eligible non-deferrable expenses.

• previously received CEBA funding. You must apply through the financial institution who provided your previous CEBA loan;
• are in good standing/not in loan or account arrears; and
• can certify to meeting the following financial needs criteria:
  • that its business is facing ongoing financial hardship (including, for example, a continued decline in revenue or cash reserves, or an increase in operating costs) as a result of the COVID-19 pandemic;
  • that it intends to continue to operate its business or to resume operations; 
  • that in response to the COVID-19 pandemic it has made all reasonable efforts to reduce its costs and to otherwise adapt its business to improve its viability; and
  • that it has not used any loan received under the Program to make any payment or pay any expense other than Eligible Non-Deferrable Expenses. Specifically, the Borrower has not used any loan received under the Program to make any prepayment/refinancing of existing indebtedness, any payment of dividends, distributions or increases in management compensation or to increase the compensation of related parties. 

• An operating company registered in Canada on or before March 1, 2020.
• Conexus is your primary financial services provider. This means that your organization uses a Conexus Business Operating Account opened prior to CEBA application for day-to-day payments and cash management activities. Otherwise, apply through the financial institution that holds your primary Business Operating Account.
• Conexus is your primary financial institution - meaning your everyday business banking account and cash management activities are held with Conexus, and opened before your CEBA application.
• Up-to-date business contact information, including phone number and email address.

• If your business has received other federal government relief, depending on the amount received, you may not be eligible for CEBA
• Eligibility and loan details are subject to change, based on CEBA program requirements
• The terms and conditions of any agreement you enter into with Conexus will govern the loan, as well as your and Conexus’ obligations under the program.

• a business account that was opened before March 1, 2020
• A valid 15 digit business number
• Payroll account (RP)

You must be a signor to access the forms, they are not available for non-signors (delegates).

• Social insurance number
• Date of birth
• Current postal code or zip code
• Tax returns from the current and previous year
• Business number

It can take between 24-48 hours for the changes to be reflected in CRA My Business Account, but processing times may vary. CRA will also notify you when you important changes are made to your account, such as Direct Deposit. If you don’t see the updated bank account information after 48 hours you can contact the CRA at 1-800-959-5525.

For more information, please visit the CRA website: Email notifications from the CRA – Businesses.

You can receive business payments such as your corporation income tax refund, goods and services tax/harmonized sales tax refund and refund of payroll deductions.

If you are eligible to receive it, you will also receive your Canada Emergency Wage Subsidy (CEWS) through the Government of Canada as a Direct Deposit payment to your payroll account (RP).

For a complete list, please visit CRA Direct Deposit Enrolment.

You will need to enter your 15-digit Business Number and identify the payroll account for the funds to be deposited into.

• Log into online banking conexus.ca*
• In the left hand menu, select Account Services
• In the submenu, select CRA Direct Deposit for businesses (CEWS)
• Read the Payment Information and click Next
• Verify Company Name
• Insert the CRA Business Number and Payroll Account Number and Select the account you would like the funds to be deposited into
• Complete the Corporate Officer Information and click Next
• Enter Your Information.
• Check off your authorization to let Conexus to share your banking information with the CRA for the purpose of establishing or changing direct deposit
• Read Privacy statement (optional)
• Click Next
• Review the information
• Click Submit

*The CRA Direct Deposit Form is only available through our Full Website to our Business Online members. This form is not available through Mobile Web or the Mobile app.

If you are expecting to receive your CEWS payment through Direct Deposit and have not received a payment within 10 days of submitting your application, you can contact the CRA at 1-800-959-5525.

Please note that if you have CRA My Business Account, you can monitor your account to check for your CEWS payment.

For questions and information on how to apply for the CEWS, please visit the Government of Canada’s website.

At the end of the enrolment process, you’ll be given a reference number to confirm that your information has been shared with the Canada Revenue Agency.

You can also verify that your profile was updated by visiting the CRA My Business Account two business days after enrolling.

If you are calling for Canada Emergency Wage Subsidy (CEWS) information or to speak with an agent about CEWS eligibility requirements, calculating the CEWS, or how to apply, call the dedicated CEWS number: 1-833-966-2099.

If you are calling for account-specific information such as My Business Account access, payment requirements, or GST and corporate income tax filing information, call the CRA’s Business Enquiries line: 1-800-959-5525.