Extension of the Emergency Account for Canadian Business (EACB)

Applicants now have until June 30, 2021 to apply to their financial institution for a $60,000 CUEC loan or a $20,000 top-up.

CUEC requirements and deadlines

  • As of December 4, 2020 , hard-hit small businesses and non-profits may be eligible for an additional $20,000 on the $40, 000 CUEC loan already available.

Applicants requesting status updates

  • Applicants can view the status of their CUEC loan application online at https://status-statut.ceba-cuec.ca/.
    • Please wait 5-7 business days after submitting your application before checking the status of your loan application on this website or with the call center. If you attempt to do so within 5-7 business days, you will not receive an update.
    • If you still have questions, you can contact the CUEC Call Center at 1-888-324-4201. The CUEC Call Center is open Monday to Friday, 8 a.m. to 9 p.m. Eastern Time, excluding statutory holidays.

CUEC update for certain $20,000 applicants under the expanded program awaiting process to submit additional information

  • The CUEC program team continues to work actively with over 230 financial institutions to complete the process that will be made available to certain $20,000 applicants under the expanded program who have been previously notified to submit additional information.
  • Applicants awaiting the process to submit additional information will have until May 7, 2021 to do so.
  • We are working to complete the process as quickly as possible for applicants. We sincerely thank you for your patience.

Program overview

This $73 billion program offers interest-free loans of up to $60,000 to small businesses and non-profit organizations.

Repayment of the loan balance by December 31, 2022 will result in a write-off of 33% of the loan (to a maximum of $20,000).

As of October 26, 2020, eligibility for CUEC has been expanded: the requirement to have an active business checking or operating account, established on March1, 2020, has been abolished. From now on, companies wishing to apply for CUEC can do so after opening an operating or business chequing account with their primary financial institution. To find out more about this new criterion and the other criteria defined since the launch of CUEC, we invite you to consult the FAQ below.

As of December 4, 2020, approved CUEC applicants can now receive a $60,000 loan. Those who have already received a $40, 000 loan can apply under the program’s enhancement, which provides an additional $20,000 in funding for eligible businesses.

For questions about existing programs for businesses, and for emergency financial assistance, you can contact our expert, Gustave Legault-Brousseau, CPA, CMA, Senior Financial Analyst at Amyot Gélinas at 819 326-3400, ext. 3472 or at glegault-brousseau@amyotgelinas.com.