Canada Emergency Business Account (CEBA) is coming soon.

Casera Credit Union is supporting small business members impacted as a result of COVID-19 by providing access to Canada Emergency Business Account (CEBA) funds in cooperation with the Federal Government and Export Development Canada.

To qualify, Casera needs to be identified as your primary financial institution. This means that you use a Casera business operating account, opened on or before March 1, 2020, for day-to-day payments and/or cash management activities.

Canada Emergency Business Account (CEBA)

The Canada Emergency Business Account provides a $40,000 loan for eligible small businesses and not-for-profits. This Government of Canada program is designed to help cover operating costs for businesses, during a period where their revenues have been temporarily reduced, due to the economic impacts of the COVID-19 virus.

CEBA loan details 

The program provides $40,000 in loans that are interest-free up until December 31, 2022. No minimum monthly principal payments are required until December 31, 2022. Repaying the balance of the loan on or before December 31, 2022, will result in loan forgiveness of 25 percent (up to $10,000). 

What businesses are eligible? 

Our Business Members must meet all of the following Government of Canada program criteria to be eligible: 

• Must be a Canadian operating business in operation as of March 1, 2020, and have a federal tax registration. If a charity must be a registered T2 or T3010 corporation, that generates a portion of its income from the sale of goods or services. 

• Must have paid a total employment income (payroll) of between $20,000 and $1.5 million in 2019. Note, you will need to indicate: 

  • Your Canada Revenue Agency Business Number (BN) (15 digits), as reported at the top of your 2019 T4 Summary of Remuneration Paid (T4SUM) 
  • The employment income reported in Box 14 of your 2019 T4SUM

You must be able to provide your 2019 T4SUM when requested upon audit by the Government of Canada. 

• You must have an active business chequing/operating account with us. 

• We must be the primary financial institution for your business. 

• Your business’s account must have been opened on or before March 1, 2020, and must not have been in arrears as of March 1, 2020. 

• Your business must not have previously used the program and must agree not to apply for it through any other financial institution. 

• You must acknowledge your intent to continue to operate your business or resume operations. You must agree that funds will only be used to pay non-deferrable operating expenses such as payroll, rent, utilities, insurance, property tax and regularly scheduled debt service, as defined in the program requirements. 

Preparing to apply 

We will be ready to accept applications soon. You can get ready by: 

Reviewing the above criteria to determine if your business is eligible. 

• You can also review the Government of Canada’s CEBA site at for more details. 

• Contact us if you have any questions. 

Locating the documents, you will require to apply: 

• Your Canada Revenue Agency Business Number (BN) (15 digits) as reported at the top of your 2019 T4 Summary of Remuneration Paid (T4SUM) 

• The employment income reported in Box 14 of your 2019 T4SUM

Download CEBA eligibility requirements.

Government of Canada CEBA website.