How does the CEBA Loan Repayment Work?

When the COVID-19 pandemic first started, many businesses were faced with financial hardship and many had to close their doors either temporarily or permanently. Because of this the federal government came up with a solution to help those businesses who were in need of extra funds for payroll and other employment expenses. This is the CEBA. The CEBA was available to many different businesses and helped many get through the toughest part of the pandemic. Now that things are slowly getting back to normal, many CEBA receivers are starting to have to pay back their loans. The amount that needs to be repaid and the interest on that money depends on when you can make your payments, and if you can meet the government's early repayment deadline.