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Changes to CEBA

  • Do you run your business out of a personal bank account with National Bank? Quickly open a business account to apply for an emergency loan for your business. To apply for a business account if don’t already have a personal account, visit this page.
  • Important: concerning the additional $20,000 financing, you must wait until the new version is announced to submit your application.

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

This loan is intended for SMEs and NPOs that paid $0 or less than $1,500,000 in salaries in 2019. 



Already a Business client

Already have an active Business Current Account in Canadian dollars with National Bank. 



Apply for one loan only

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

Picto bubble with exclamation mark

Quickly open a business account

If you run your business out of a personal account with National Bank, you can quickly open a business account. To apply for a business account if you don’t already have a personal account, click here

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 the emergency loan works

How does the emergency business loan work? 

The emergency loan for National Bank business clients amounts to $40,000 (fixed amount). Processing your application can take between 10 and 15 business days (if the application is completed in accordance with the eligibility criteria issued by the federal government). 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%.

You have until December 31, 2020 to complete your CEBA loan application. 

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:

  • Have paid an amount greater than $20,000 and lower than $1,500,000 in salaries in the 2019 calendar year.  


  • Have paid no salaries or total salaries of $20,000 or less in the 2019 calendar year, and:
  • Have filed an income tax return for 2018 or 2019.
  • Have a total of non-deferrable expenses as of March 1, 2020, between $40,000 and $1,500,000 that the business was legally or contractually required to pay in 2020 (including eligible expenses that cannot be deferred and have actually been paid since January 1, 2020), deducting any excluded benefits. These expenses could include, for example, rent, property taxes, utilities and insurance. Expenses will be subject to verification and audit by the Government of Canada. 


Important! After submitting your application using the form available on this page, you must submit your supporting documents on the government's website: https://application-demande.ceba-cuec.caThere you will find the procedure and the official list of eligible expenses.


To apply for the emergency loan through National Bank, your business must also:

  • Have an active Canada Revenue Agency Business Number (BN) with an effective date of registration on or prior to March 1, 2020. 
  • Have an active business current account in Canadian dollars with National Bank.
  • Have National Bank as your primary financial institution. 

Once your application has been completed:

The Government of Canada will assess application information submitted via financial institutions together with the supporting documentation and information provided, if applicable. If approved by the federal government, National Bank will provide the funds into your business current account.

Note: National Bank does not have information regarding specific inputs or uploaded documents and does not have authority to grant exceptions on any declined applications. Applications are assessed by the federal government, and no formal appeal process is available.

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.

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 repay or refinance a payment, or for expenses such as existing debt or to pay dividends, nor may it be used for distributions purposes or to increase management compensation.

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

To qualify for the emergency loan, your business must not have previously used the Canada Emergency Business Account and will not apply for support under the loan with any other financial institution.

However, you can get additional assistance from 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 long does it take to process an application? 

Once you have applied through the online form from our website, upload all necessary supporting documents (if you paid $0 or $20,000 or less in total salaries for 2019), and if pre-funding eligibility validation is successful, you should expect to receive funding within 10 to 15 business days. 

Your application and supporting documentation must be properly completed and submitted to start the pre-funding eligibility validation process. 

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

Yes, you can now apply for the emergency loan. Here are the steps to follow:

  1. Complete the Pre-screen tool on the government of Canada website to see if you’re eligible.
  2. Open a business current account with National Bank, where you already have your personal account. Consult this page to learn how you can quickly open a business account.
  3. Apply for the emergency loan through the form available above.

Where can I call if I have questions about my application?

If you have applied for a Canada Emergency Business Account (CEBA) and have questions, please contact the CEBA call centre at 1-888-324-4201 to receive a status update on your application. You will be able to leave a message and an agent will call you back between Monday and Friday from 10 a.m. to 9 p.m. (ET). You can address the following types of questions:

  • What is the status of my application?
  • Why was my application declined?
  • Why weren’t my submitted document processed?

Businesses who paid no salaries or total salaries of $20,000 or less in 2019 

How do I justify my eligible expenses to the government? (Applicable only if your business paid no salaries or $20,000 or less in salaries in 2019.) 

If your business had a payroll of $0 or $20,000 or less in 2019, it is mandatory that you must submit proof of your eligible expenses on the government website.  

Once you have submitted your application for an emergency loan using our form, go to the government website to find out the procedure and whether or not your expenses are eligible and the list of excluded benefits. You must submit the required documents before January 11, 2021. However, consider that the earlier your documents are filed, the faster your application will be processed. 

Make sure you have:

  • Your financial institution’s name, in this case, National Bank 
  • Your Business Number (BN) (9 digits, as registered with the Canada Revenue Agency)
  • Copy of your eligible expenses documents (details about file formats available on the government’s website)

Filing of documents on the government website is mandatory for your request to be processed.

I have benefited from other assistance programs. Do I have to deduct them from my eligible expenses? 

Yes, including the following Government of Canada COVID response programs:

  • Canada Emergency Wage Subsidy,
  • 10% Temporary Wage Subsidy,
  • Canada Emergency Commercial Rent Assistance,
  • Regional Relief and Recovery Fund,
  • Futurpreneur Canada,
  • Northern Business Relief Fund,
  • Fish Harvester Grant,
  • Relief measures for Indigenous businesses, and
  • $250 million COVID-19 IRAP (Industrial Research Assistance Program) Subsidy Program and the Canada Emergency Rent Subsidy

The grants you will have received will have to be deducted from your eligible expenses and after this calculation you will have to arrive at an amount of more than $40,000 and less than $1,500,000 in eligible expenses.

The official list of excluded benefits can be found on the government's website. Please read it so that you are prepared:

What are eligible non-deferrable expenses? 

Eligible non-deferrable expenses may include, for example, the following: 

  • Salaries / third party payments
  • Rent / lease - real estate
  • Rental / contract for equipment
  • Insurance
  • Property tax bills
  • Phone bills
  • Gas, oil, electricity, water and internet
  • Loans, mortgages, line of credit
  • Invoice for independent contractor fees
  • Licence fees
  • License Agreement 

The official list of eligible non-deferrable expenses can be found on the government's website. Please read it so that you are prepared:

I operate an incorporated business as a partnership. Are there any specific criteria I need to meet? 

For incorporated businesses, the person applying for the emergency loan must be a legally authorized partner. The name of the partner will be used for identity confirmation purposes with the government. 

When asked about income (in option of $0 or $20,000 or less in salaries paid in 2019), the applicant will be required to indicate the business’s reported income.

Businesses who paid more than $20,000 and less than $1,500,000 in salaries in 2019 

If I’m applying with the payroll option greater than $20,000 and less than $1,500,000, what do I do if I have more than one Canada Revenue Agency Payroll Program Account? 

You should add all 2019 T4SUM statements together and compare that total amount against the CEBA eligible payroll range, which is a payroll amount greater than $20,000 and less than $1,500,000. 

For example, a business with the following two payroll numbers would have a total payroll amount of $100,000, which is within the eligible range:

  • Payroll number 1 (…RP0001) 
    • 2019 T4SUM = $30,000
  • Payroll number 2 (…RP0002)
    • 2019 T4SUM = $70,000
  • Total 2019 T4SUM = $100,000

Additional information

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 an emergency loan if I run my business out of a Business Savings Account? 

Businesses which choose to do their banking through a business savings account are not eligible for the CEBA program. 

Only business current accounts opened on or prior to March 1, 2020, and not in arrears on existing borrowing facilities, if applicable, with National Bank by 90 days or more as at March 1, 2020 are eligible for the CEBA program.

What if I run more than one business? 

Each qualifying business must have a unique 9-digit Canada Revenue Agency Business Number (BN). Each qualifying business is limited to one emergency loan. 

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.

Steps to follow for your loan application 

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 National Bank Business Current Account number (see the bottom of your business cheques)
  • Your business’s transit number (5 digits and appears at the bottom of your business cheques)
  • The total amount paid in employee salaries in 2019 can be found in Box 14 of the Borrower’s 2019 T4SUM. For the limited number of Borrowers who also pay employees tax-exempt salaries under the Indian Act, please also add such salaries for 2019, as reported in Box 71 of all employee T4 slips for 2019
  • Your Business Number (BN) as registered with the Canada Revenue Agency (9 digits), or Employer Account Number (15 characters long and appears on your business’s 2019 T4 Summary) 

To complete the application (if you paid $0 or $20,000 or less in salaries), you will also need: 

  • Copies of Receipts / Invoices / Agreements that support your 2020 eligible non-deferable expenses.

What is a T4 Summary, T2 or T1? 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 Declaration, or T1 Declaration.  

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. 

For partnerships, the request must be made by one of the partners. 

Acceptance or refusal of your application 

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 for an emergency loan has been accepted and the amount has been deposited into the business account. When will I receive the loan documents?

We will send statements on a quarterly basis, until the loan is paid, to businesses that have been accepted for the Canada Emergency Business Account (CEBA) through National Bank.
 The first time you receive your statement, you will also receive:

  • A welcome letter explaining how the loan works, for example, the repayment method;
  • The attestation from the federal government to which you provided consent when you applied for the loan;
  • The loan agreement detailing the terms and conditions, to which you also provided consent when you applied for the loan.


 Businesses that received the CEBA loan:  Will receive their statements: 
 Between April 6 and June 26, 2020 
 During the month of June 2020 
 Between June 27 and October 5, 2020  During the month of October 2020 
 Between October 6, 2020 and January 5, 2021  During the month of January 2021

Should you have any questions about the CEBA loan statement, please call our Customer Service team at 1-844-394-4494. 

It’s important to remember that you consented to the government attestation and terms and conditions of the Canada Emergency Business Account when you submitted your application. The business has, therefore, undertaken to respect the terms and conditions of the loan.

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.

Note: National Bank does not have authority to grant exceptions on any declined applications. Applications are assessed by the federal government, and no formal appeal process is available. 

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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