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As of October 26, 2020, eligible Canadian businesses that currently operate through a personal bank account can apply for CEBA. All applicants have until December 31, 2020, to apply.

The CRA has provided some steps to access the CEBA loans when using personal accounts, we have gone through the steps and summarized them below:

  • To qualify you must first complete the pre-screening tool which you can find here.
  • You would then open a business bank account with the bank and apply for the CEBA loan through your primary bank.

For the pre-screening tool you will need:

  • Name of Bank,
  • Legal business name,
  • CRA Business Number,
  • Email,
  • Information from T1 (2018 or 2019)¬† business schedule,
  • Annual payroll information,
    • (Under $20K – will need business expense info)
    • ($20K – $1.5M – only payroll information required)
    • (over $1.5M – not eligible for CEBA)
  • If your payroll is under $20K, you will need to fill in the expense section.

The following categories are considered as acceptable expenses:

  • Wages to third parties
  • Rent/lease payments¬† (premises or equipment)
  • Insurance
  • Property taxes
  • Telephone & utilities (including internet)
  • Regularly scheduled debt payments
  • Payments under agreements with independent contractors
  • Payments for materials consumed to produce a product

The application also includes a non-exhaustive list of supporting documents to submit:

  • Each category is added separately with amounts
  • Followed by final review and submission
Once all of the information is submitted, CRA will complete a review of your application and let you know if it was approved.
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