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CEBA Loan Repayment Deadlines
The repayment deadline for CEBA loans to qualify for partial loan forgiveness of up to $20,000 is January 18, 2024. This deadline refers to when small businesses have to repay in order to qualify for the forgivable portion of the loan. For small business owners who aren’t able to repay their loan by January 18th,
here are some important dates:
January 18, 2024
- Deadline to repay and qualify for up to $20,000 forgivable portion of the loan
- Low interest rate of 5% will be applied to the loan from this date onwards
- Deadline to apply for refinancing through the financial institution that provided your CEBA Loan in order to qualify for the refinancing extension and to still be eligible to take advantage of the forgiveness portion
March 28, 2024
- Deadline to repay through refinancing while still qualifying for up to $20,000 forgivable portion
December 31, 2026
- Term loan repayment deadline
Resources for small businesses:
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The Grow Your Business Online grant provides eligible small business owners up to $2,400 to get their business online and boost their e-commerce presence. To qualify, eligible applicants must have at least one employee (other than the owner) OR have had at least $30,000 in annual revenue in the most recent tax year. Recently the search engine optimization (SEO) eligibility criteria was updated.
NEW! What you need to know . . .
- SEO is now a standalone expense under the CDAP grant
- As long as your business has a website with e-commerce functionality, SEO can now be claimed as a sole expense.
- When SEO is combined solely with social media advertising or digital marketing, SEO must constitute 50% or more of the total funding request
- For example: If you spend $400 on SEO and $2000 on digital marketing, you'll only be eligible for $400 in digital marketing expenses.
- If SEO is combined with another stand alone expense, the 50% rule does not apply
- For example: If you spent $400 on SEO, $500 on the creation of customer databases, and $1,500 on digital marketing, the expense would be eligible.
- For example: If you spent $400 on SEO and $2000 on customer relations management software, the expense would be eligible.
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Join the Canadian Chamber of Commerce's Business Data Lab in collaboration with Amazon Canada on January 29, from 12:00 p.m. – 1:30 p.m., to explore how the Canadian business landscape has changed, and how multichannel tools help create new opportunities for small businesses to modernize operations and excel in retail.
Hear from the Honourable Rechie Valdez, Minister of Small Business, and other small business experts who have not only adapted, but thrived by providing innovative shopping experiences that keep customers coming back.
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Unsure about what reconciliation means for your business? Read the Ontario Chamber Network and Canadian Council for Aboriginal Business’ “Sharing Prosperity,” resource to understand historical context, Indigenous rights and opportunities, challenges facing Indigenous businesses, and meaningful actions businesses can take to advance economic reconciliation. | |
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Calling all young leaders in Canada's Capital Region!
Now in its 27th year, Forty Under 40 is one of the most sought-after and distinguished business awards for young business leaders in Canada's Capital Region. In partnership with the Ottawa Business Journal, we are once again looking for the next generation of leaders across all sectors of our local economy.
Do you know a rising young business star in Canada's Capital region?
Nominate them today!
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January 22, 2024 | 1:00 to 1:30 PM | Virtual
Are you interested in learning more about the benefits of membership and the important advocacy work that we're doing to support our business community?
New members, future members, and existing members are invited learn more about how you can Maximize Your Membership with OBOT. Join Holly Fortier, Coordinator, Events & Membership, as she shares the benefits of membership with your Ottawa Board of Trade.
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In October 2023, the Ontario Chamber of Commerce and Ontario Chamber Network released Mind the Gap: Addressing the Mental Health “Echo Pandemic,” a detailed report outlining recommendations examining the interconnected impacts of the mental health and addictions crisis on small and medium-sized enterprises (SMEs), communities, and the provincial health care system. As part of our continued work on this important issue, you're invited to a webinar on January 23, 2024, addressing the ongoing impacts of the mental health “echo pandemic.”
Don't miss this opportunity to gain valuable insights, actionable strategies, and collaborative solutions.
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Canada's #1 Employee Benefits Plan
OBOT members have access to an affordable and accessible health insurance and benefits plan. Alongside standard benefits like dental, health & life insurance, our programs include value-added services like HR tools, resources, and expert advice.
Sign your business up for the Chambers Plan today!
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THANK YOU RENEWING MEMBERS!
The Ottawa Board of Trade is an independent, non partisan, purpose driven not-for-profit, with a 165-year track record of advocating for business, economic growth and community prosperity. Please reach out and say THANK YOU to our members who ensure Ottawa has a strong voice of business at every level of government.
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