Careful of the CEBA Expansion
On December 4th the terms of the CEBA loan expnasion were released. As a reminder, the original loan was $40,000 for eligible businesses with 25% being forgivable if paid back by the end of 2022. Many businesses applied for the loan as the eligibility criteria was broad. The eligibility has stayed broad since the begining and has expanded (see here for eligibility rules - https://ceba-cuec.ca/) , but the uses of funds has narrowed under the new loan agreements.