
CEBA Refinancing Program
Save up to $20,000
in loan forgiveness when you repay your CEBA loan before January 18th 2024.
Refinance your CEBA loan
Take advantage of
loan forgiveness
Take full advantage of the CEBA program by ensuring you qualify for loan forgiveness.
Extend your
repayment timeline
Instead of paying down your CEBA loan balance as a lump sum, make small repayments over a longer period of time
Choose the type of financing that best fits your business
Choose from 3 different financing products designed for SMBs
Breaking Down CEBA Loan Forgiveness
As long as you repay your CEBA loan by January 18 2024, meet the CEBA eligibility criteria and are in good standing, you’re eligible to take advantage of loan forgiveness.
If you borrowed $40,000, repayment of your outstanding balance will result in loan forgiveness of 25%.
If you borrowed more than $40,000, repayment of your outstanding balance will result in loan forgiveness of 25% on the first $40,000 plus 50% on the amount above $40,000.
If you borrowed
$40,000
Available Loan Forgiveness: $10,000 Payment due by January 18 2024: $30,000
If you borrowed
$60,000
Available Loan Forgiveness: $20,000 Payment due by January 18 2024: $40,000

Repay your way with any of our flexible financing products
- Fixed Term Loans Repay over a set term with fixed daily or weekly payments.
- Line of Credit Repay with fixed or variable payment and have ongoing access to capital for when you need it.
- Flex Funds The most flexible repayment option. Pay back faster when sales are strong, and benefit from smaller payments when they’re not.
Get a cash back bonus of up to $1500

Refinance early and save more. Get an additional cash back bonus of up $1500 if you secure your CEBA refinancing early*. Don’t delay, the sooner you apply, the more you’ll be eligible for.
*The cashback promotion is only available on CEBA Refinancing Loans. To be eligible for the promotion, your loan must be funded by November 30th, 2023, be on a 12+ month term, and be repaid and full without missing any scheduled payments.
Get the funding you need in three simple steps

Apply online
Apply online to find out how much you qualify for. Access 3 financing products with 1 simple application. Applying is 100% risk free. There’s no obligation to continue and it will not affect your credit score.

Fast funding
Get up to $300,000 to support your business quickly. Your funds are deposited directly into your business bank account within 24 hours** and ready to use for whatever your business needs.

Automatic repayments
Consider repayment as one less thing to worry about because we setup convenient automatic repayments for you. Choose from daily or weekly repayment options.
or call us at (855) 704-7458
CEBA Refinancing Program FAQ
You will not be eligible for loan forgiveness. You will have to repay the full amount you borrowed plus 5% interest per year, charged monthly. The principle is due in full by December 31 2026.
– If you borrowed $40,000 or less, repayment of your outstanding balance will result in loan forgiveness of 25%. For example, if you borrowed $40,000, you only need to repay $30,000, receiving $10,000 in loan forgiveness.
– If you borrowed more than $40,000, repayment of your outstanding balance will result in loan forgiveness of 25% on the first $40,000 plus 50% on the amount above $40,000. For example, if you borrowed $50,000, you only need to repay $35,000, receiving $15,000 in loan forgiveness.
– If you borrowed $60,000, repayment of your outstanding balance will result in loan forgiveness of 33%, or $20,000.
As long as you meet CEBA eligibility criteria and are in good standing with the financial institution that funded your CEBA loan, then you are eligible for loan forgiveness if you repay your principal by January 18 2024.
To qualify for business financing with OnDeck Canada: Your business must be based in Canada. You must have a business bank account with a Canadian financial institution. You must have business history of at least 6 months, with you as the business owner. You must make a minimum of $100,000 in annual sales.
Our Line of Credit is a form of revolving credit that allows you borrow money up to a certain limit and pay it back over time. Repayment can either be fixed, with a set weekly payment, or variable, with a weekly payment that comprises a percentage of your principal plus interest. The funds from a Line of Credit are deposited directly into your business bank account and are best suited for ongoing or unexpected expenses such as repairs or payroll. Learn More
With a Term Loan, you receive the full amount of financing up front and repay with fixed installments (daily or weekly) over the course of the term. A Term Loan is best suited for investments such as purchasing equipment or financing an expansion. Learn More
Flex Funds is an advance product that provides you with the full amount of financing up front and is repaid with variable, daily payments using a small percentage of your daily card sales. Flex Funds is best suited for seasonal businesses or those with more unpredictable sales cycles. Learn More
For more information about CEBA, please visit the Government of Canada website here.
Helping small businesses is what we’re all about
• Due to the September 14, 2023 government announcement regarding changes to the CEBA program, we are in the process of updating our website and cannot guarantee the accuracy of all the information currently displayed on this page.
• Pricing for term loans ranges from 8% – 29%, cents on the dollar (for each dollar borrowed, the amount of interest paid ranges from $0.08 — $029). Lower rates are available and may be offered to businesses with strong creditworthiness.