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Updates coming soon

Following the Federal Government’s decision to expand the Canadian Emergency Business Account eligibility criteria, we will update you as soon as possible once the information is available. 

Canada Emergency Business Account (CEBA) 

SMEs and NPOs: discover the emergency loan to help support you


in emergency loans


0% interest

until December 31, 2022



 exemption upon repayment, conditions apply

Program supported 

by the government


An unprecedented measure

To address the challenges of COVID-19, the Canadian government has established an emergency account for businesses. This program allows small and medium-sized businesses (SMEs) and non-profit organizations (NPOs) to apply for a loan, interest-free until December 31, 2022. 

Overview: conditions for the emergency business loan 



Meeting the criteria

Be an SME or NPO that has paid between $20,000 and $1,500,000 in salaries in 2019. 



Already a Business client

Already have an active Business Current Account in Canadian dollars with National Bank on or before March 1, 2020. 



Apply for one loan only

Only apply through National Bank if it’s your business’s main financial institution

How to apply for the emergency business loan 



Apply online

You can complete the online form in less than 15 minutes. 



Processing your request 

Our experts will verify if your application meets the criteria required by the government.



Accepted? Receive the loan

If your application is accepted, the loan amount will be deposited into the Business Current Account listed in your application. 

Does your business need financial support? Consult the emergency loan eligibility criteria and apply online. 

Request loan

What you need to know about the emergency business loan 

How does the emergency business loan work? 

National Bank’s emergency business loan amounts to $40,000. If your application is accepted, the funds will be deposited into the business account listed in your application and will be available immediately.

If you repay $30,000 by December 31, 2022:

  • You do not have to pay interest 

  • You will be exempted from paying the remaining $10,000

On January 1, 2023:

  • If there is a remaining balance, the loan will be automatically renewed for a 3-year extended period ending December 31, 2025, at an advantageous fixed interest rate of 5%.

For the repayment of the loan, no payment will be possible before January 1, 2021. 


What are the eligibility criteria?

The Canada Emergency Business Account is intended for small and medium-sized businesses and non-profit organizations.

To be eligible, the federal government has imposed the following conditions on businesses: 

  • Organizations must have paid between $20,000 and $1,500,000 in salaries in 2019.

  • NPOs must have filed a T2 return for the 2019 tax year.

  • Charities must have filed a T3010 return for the 2019 tax year.

If you would like to apply for the emergency loan through National Bank:

  • You must have an active Business Current Account in Canadian dollars with National Bank on or before March 1, 2020. 

  • Your business was not in arrears on existing borrowing facilities, if applicable, with National Bank by 90 days or more as at March 1, 2020. 

  • National Bank must be your primary financial institution. 

Note that certain types of organizations are not eligible, such as management companies.

I run a sole proprietorship business with a personal chequing account. Can I still apply? 

No, you are not eligible for the emergency business loan. Conditions include having a payroll between $20,000 and $1,500,000 in 2019 and using a Business Current Account.

However, the Canadian government has announced measures to help individual sole proprietors. For more information, see Canada’s COVID-19 Economic Response Plan.

If I get this emergency loan, can I also benefit from other available support measures? 

Yes, you can get additional assistance through other programs available to businesses, provided you meet their eligibility criteria. 

Find out more about our support measures and Canada’s COVID-19 Economic Response Plan

How do I know which bank is my primary financial institution?  

If you have accounts with more than one financial institution:

Your business’s main financial institution is the one with which you carry out most of your daily transactions. These include paying your employees, making payments to suppliers, collecting accounts receivable, and other day-to-day cash management transactions.

If you have several accounts with National Bank:

You must use an active Business Current Account. For example, you cannot request the that funds be deposited into a savings or trust account. 

If National Bank is your primary financial institution and you hold several eligible accounts with us, you can choose the one you prefer when filling out the application.

Can I apply for a loan amount other than $40,000? 

No, the amount of the National Bank emergency business loan is set at $40,000.

If I need consent from several people in my business to apply for a loan, how do I proceed?  

We accept only one signatory per application. If your business requires the consent of more than one administrator, we recommend that you have them approve a resolution that will allow only one signatory. This way, you can complete the application and provide the consent to the terms and conditions of the loan on behalf of the business. 

Will I be able to use the loan as I see fit? 

The emergency loan must only be used to cover operating costs that cannot be deferred, such as payroll, rent, utilities, insurance, property tax and regularly scheduled debt service. 
The loan may not be used to fund any payments or expenses such as prepayment/refinancing of existing indebtedness, payments of dividends, distributions and increases in management compensation.

Who is the lender, the Canadian government or National Bank? 

In response to the economic impact of COVID-19, the Canadian government established the Canada Emergency Business Account Program to provide interest-free loans of $40,000 for small and medium-sized businesses and non-profit organizations. 

National Bank and several other financial institutions are authorized to implement this program, in cooperation with Export Development Canada.

By requesting an emergency business loan of $40,000 through our website, you are borrowing from National Bank, but supported by the government. 

Visit the Canadian government website for more information.

How do I apply for an emergency business loan? 

To apply for the Canada Emergency Business Account, you must fill out the online form. Follow the step-by-step instructions to ensure your application is complete. 

What information will I need to provide in my application? 

You will need: 

  • Your active Current Account number with National Bank (see the bottom of your cheques) 
  • Your business’s transit number (5 digits and appears at the bottom of your cheques) 
  • Total employment income can be found in Box 14 of the Borrower’s 2019 T4 Summary. For the limited number of Borrowers who also pay employees tax-exempt employment income under the Indian Act, please also add such employment income for 2019, as reported in Box 71 of all employee T4 slips for 2019 
  • Your Business Number or Employer Account Number (15 characters long and appears on your business’s 2019 T4 Summary) 

What is a T4 Summary, T2 or T3010? How do I obtain these documents? 

These are the tax documents by which your business reports to the Canada Revenue Agency. They comprise of the details of your employees’ remuneration during a calendar year including income, contributions, and deductions.

If you cannot find these documents for the 2019 calendar year, contact your accountant, the person who filed your business tax return, or the Canada Revenue Agency to retrieve a copy.

View a sample of a T4 SummaryT2 Corporation Income Tax Return, or T3010 Registered Charity Information Return

How long does it take to process an application? 

Processing your application can take between 5 and 10 business days.

My application is accepted. How can I be sure that the funds have been deposited into my account? 

Check your account balance by signing in to our Internet and mobile banking solutions. You can also visit one of our ABMs or call us at 1-888-835-6281.

My application was declined. If I apply for a loan under $40,000 is there a better chance I get it? 

No, you cannot apply for an amount other than $40,000 for the emergency business loan. The amount would not affect the eligibility criteria. 

My application was declined. What can I do? 

If your application is declined, it means your business does not meet the program’s eligibility criteria and cannot benefit from this program.

Learn more about our support measuresCanada’s COVID-19 Economic Response Plan, and Emergency Aid for Small and Medium Businesses

Have questions about your application? Write to us at the email address listed in the acknowledgement email.

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