This information is from the national office of The United Church of Canada:
In anticipation of the repayment of federal Canada Emergency Business Account ‘CEBA’ loan, the United Church has developed a repayment program for UCC congregations who find themselves struggling to fully repay their commercial CEBA loans – which would trigger foregoing the already accounted for forgiveness portion.
The United Church of Canada Loan: Canadian Emergency Business Account ‘CEBA’ Close Out
- We have created a loan program to support our congregations through this transition.
- To take advantage you must respond prior to December 10, 2023.
To provide bridging support, the national office is prepared to facilitate a swap out of the commercial loan and replace it with a UCC loan. In short, UCC would issue loans of $30,000 or $40,000 for the express purpose of paying off CEBA.
All eligible United Church CEBA loan holders in good standing with UCC are able to take advantage of this loan at an interest rate of 5.0%. First payment comes due February 1st, 2024.
To get started
Simply complete the loan agreement and forward to Maria Pimpinella at firstname.lastname@example.org along with a copy of void cheque.