Support for our Business Members 

The Canada Emergency Business Account (CEBA) program is available to businesses which meet the eligibility criteria set out below. Subject to the ongoing availability of government funding, a loan of $40,000 is available to businesses to help cover eligible non-deferrable expenses.

• Loans up to $40,000. Loan forgiveness up to 25% of the initial amount to a maximum of $10,000, if balance is repaid on or before December 31, 2022.
• Interest rate at 0% until December 31, 2022.
• If the loan cannot be paid by December 31, 2022. Loan will be converted into a 3-year term loan, bearing an interest rate of 5% per annum.

For more information and full eligibility criteria, please see here. 

Ready to Apply?

• Login to Online Banking
• Select Account Services, Select CEBA
• Complete and submit form 

Not signed up for Online Banking?

You can apply by downloading our online form, completing and sending the form by email to: comm_loans@pacecu.com

Canada Emergency Business Account Application and Loan Agreement Form

Once PACE Credit Union (PCU) receives your application, if we need to clarify any information, we will contact you within three business days. When your application has been verified, it will take approximately five business days to receive funds.

Questions?

Please contact your Account Manager who is available to support you during these uncertain times. If you don’t have a dedicated Account Manager, contact us at comm_loans@pacecu.com.

For businesses that have been impacted by COVID-19 but do not meet the criteria for Government Access to Credit programs, please contact your Account Manager or Business Banker to see how else we may be able to help.

Further information is available at the Government of Canada’s COVID-19 Economic Response Plan.