Skip to main content

We Are Here For Our Business Members

​The Canada Emergency Business Account (CEBA)

As the COVID-19 pandemic continues to unfold, Tandia has been implementing proactive measures to help ensure both the personal and financial health and safety of our members, employees and communities, while continuing to provide essential financial services in a socially responsible way. Today’s update focuses on our Business members.

Tandia is preparing to support our Business members by offering this new government-guaranteed credit solution. An eligible business – small businesses and not-for-profit organizations - can receive a loan of up to $40,000 to help cover operating costs during a period where their revenues have been temporarily reduced. 

R​eceive a loan of up to $40,000

Government-guaranteed Credit Solution

Help Cover Operating Costs 

About the CEBA Loan Program

  • To be eligible to apply, businesses must have paid between $20,000 to $1.5 million in total payroll in 2019, based on tax records, and in good financial health before the impact of COVID-19.
  • Eligible businesses must apply where they have their business banking relationship (day-to-day banking).
  • Principal repayments can be made at any time however, no monthly minimum principal payments are required until December 31, 2022.
  • Loan forgiveness of one quarter of each loan, up to $10,000 is available if businesses repay their loan balance by December 31, 2022.
  • Any unpaid remaining balance by the end of 2022 will convert to a three-year term loan at 5% interest. All principal and accrued interest will be due by December 31, 2025.

Prepare to Apply

  •  You will need your 15-digit Business Number and the Box 14 amount for remuneration issued in 2019 T4 Summary of Remuneration Paid statement. You can access this information online through the CRA portal.
  • You must identify and confirm Tandia as your primary financial institution - the one that holds your primary business operating account. If this is not the case, you will need to apply through the financial institution that does hold your primary operating account. The person applying for the CEBA loan must have the authority to attest on behalf of your organization to the terms of the CEBA loan agreement.

Apply for the CEBA Loan


​How do I apply for this program? 

You must apply for the program at your main financial institution of record as of March 1, 2020.

Where do I obtain an application for the program?

Please visit to find the CEBA application form.  If you have any additional questions please contact your local Tandia branch or our Member Solutions Centre at 1-800-598-2891. 

​Can I go apply for the program at a bank or other credit union? 

 This loan must be taken out through your primary financial institution. 

​How do I qualify?

All credit-worthy businesses with viable business models whose activities fall within the mandate are eligible to benefit from CEBA. Businesses must also be registered in Canada and will need to prove that between $20,000 to $1.5 million was paid out in total payroll in 2019.

​What are the details of the loan?

CEBA will provide interest-free loans of up to $40,000 to eligible businesses. To qualify, businesses will need to demonstrate they paid between $20,000 to $1.5 million in total payroll in 2019. Repaying the loan on or before December 31, 2022 will result in loan forgiveness of 25% (up to $10,000). The CEBA will be implemented by eligible financial institutions in cooperation with Export Development Canada and the Department of Finance.

​How long until I can access this program? 

The Ministry of Finance together with EDC are working together to put the necessary processes in place to ensure all eligible small business members at all of Canada’s credit unions can access the funding. 

​What can I do in the meantime?

If you are an eligible small business, you should reach out to your primary financial institution where you have your banking business to let them know you plan to apply for the CEBA.  Tandia will begin gathering the details necessary to qualify you for the funding. 

​How long will it take to receive the money after I’ve applied?

After Tandia has been onboarded to the program and you have completed the required documentation, your application will be assessed and money will be deposited in your account, likely within 4-5 business days. 

​How is the loan distributed?

The loan will be deposited in your account after the loan is approved. 

​What is the interest rate on the loan?

The $40,000 loan is interest-free and no principle payments will be required until December 31, 2022. Up to $10,000 is eligible for complete forgiveness if $30,000 is fully repaid before December 31, 2022. 

​Who can I contact for more information? 

You can reach out to your local credit union for more information on this program and other supports available.