Loan Assigned to CEBA Program — Loan Assignment

What does “loan assignment” mean?

Loan assignment is a process which results in the transfer of your CEBA Loan from the financial institution that initially handled its establishment and administration, to the CEBA Program for collection of outstanding balances.

Before your CEBA Loan is assigned, your financial institution will send you a Demand Letter indicating that your CEBA Loan is in default and that it will likely be assigned to the CEBA Program if it is not repaid. If your CEBA Loan is then assigned, the CEBA Program will send you a written Loan Assignment Notice through postal mail to inform you of the loan assignment. The Loan Assignment Notice will also contain important information about how to make payments and manage your CEBA Loan going forward.

If your CEBA Loan is assigned to the CEBA Program, please continue to reference this FAQ section and direct your unanswered questions to the CEBA Call Centre at 1-888-324-4201.

The Canada Revenue Agency (CRA) is assisting with the collection of CEBA Loans that are assigned to the CEBA Program. Please reference the “What is the CRA’s role within the CEBA Program?” FAQ for more information about how the Canada Revenue Agency (CRA) is also involved in the collection of CEBA Loans.

Why was my loan assigned to the CEBA Program?

Your CEBA Loan may be assigned to the CEBA Program if it is in default. A CEBA Loan can be in default for various reasons, including but not limited to:

• if you do not repay any principal or interest when due; or
• if you have become insolvent; or
• if you failed to observe any other terms applicable to your CEBA Loan.

If your CEBA Loan is assigned to the CEBA Program, please continue to reference this FAQ section and direct your unanswered questions to the CEBA Call Centre at 1-888-324-4201. Please contact your financial institution if you would like more information on specifically why your loan was assigned.

What happens after my CEBA Loan is assigned to the CEBA Program?

If your CEBA Loan is assigned to the CEBA Program, you will receive a written Loan Assignment Notice through postal mail to inform you of the loan assignment. The Loan Assignment Notice will also contain important information about how to make payments and manage your CEBA Loan going forward, as well as how to set up a payment arrangement with the Canada Revenue Agency (CRA). A 12-digit CEBA Identification Number will be provided in the Loan Assignment Notice, which you will need to register for a CEBA Portal Account.

After assignment of your CEBA Loan, you can no longer access your CEBA Loan through your financial institution. You are required to register for a CEBA Portal Account in order to access details about your CEBA Loan, such as loan statements, and manage your CEBA Loan going forward. If you receive a Loan Assignment Notice, please visit account-compte.ceba-cuec.ca to register for a CEBA Portal Account using your 12-digit CEBA Identification Number.

If you are unable to repay your CEBA Loan and it is assigned to the CEBA Program, the CRA may review your circumstances on a case-by-case basis and work with you to establish a payment arrangement/repayment plan tailored to your ability to repay.

If your CEBA Loan is assigned to the CEBA Program, please make all your payments directly to the CEBA Program and continue to reference this FAQ section. Direct any unanswered questions to the CEBA Call Centre at 1-888-324-4201. Please reference the "What is the Canada Revenue Agency’s (CRA) role within the collection of CEBA Loans?" FAQ for more information about how the CRA is involved in the collection of CEBA Loans.

What is a CEBA Identification Number and what is it used for?

A CEBA Identification Number is a 12-digit unique identifier allotted to each assigned CEBA Loan, the first three digits of which will always be ‘967’. You will receive a CEBA Identification Number only if your CEBA Loan has been assigned to the CEBA Program by your financial institution. The CEBA Identification Number will be included in the Loan Assignment Notice from the CEBA Program.

Your CEBA Identification Number can be used to do the following:

• register for a CEBA Portal Account;
• make payments towards your CEBA Loan; and/or
• recover a lost or forgotten username and/or password for your CEBA Portal Account.

Your CEBA Identification Number is unique and cannot be changed as it is assigned to you by the CEBA Program during loan assignment. If you lose or forget your CEBA Identification Number, please contact the CEBA Call Centre at 1-888-324-4201.

What is a Loan Assignment Notice?

If your CEBA Loan is assigned to the CEBA Program, you will be sent a written Loan Assignment Notice through postal mail to inform you of the loan assignment. This notice contains important information about how to manage your CEBA Loan after it is assigned and includes your unique 12-digit CEBA Identification Number. Your CEBA Identification number is needed to register for a CEBA Portal Account, where you may manage your CEBA Loan and make payments going forward.

After assignment to the CEBA Program, please continue to reference this FAQ section and direct unanswered questions to the CEBA Call Centre at 1-888-324-4201.

What is the Canada Revenue Agency’s (CRA) role within the collection of CEBA Loans?

The Canada Revenue Agency (CRA) is assisting with the collection of CEBA Loans in default that have been assigned to the CEBA Program. As such, the CRA may contact you regarding your CEBA Loan, including to arrange repayment. If full repayment of your CEBA Loan is not immediately possible, the CRA may (but is not required to) establish a payment arrangement or repayment plan with you, which will still require full repayment of all amounts owing under your CEBA Loan. Alternatively, you can reach out to the CRA CEBA Contact Centre to discuss any available repayment options. You can reach the CRA CEBA Contact Centre at 1-800-361-2808.

After assignment to the CEBA Program, please continue to reference this FAQ section and direct unanswered questions to the CEBA Call Centre at 1-888-324-4201.

My CEBA Loan has been assigned, should I wait for a call from the Canada Revenue Agency (CRA), or should I reach out proactively?

If your CEBA Loan has been assigned to the CEBA Program, you are encouraged to contact the CRA CEBA Contact Centre directly regarding your CEBA Loan and to discuss setting up a payment arrangement. You can reach the CRA CEBA Contact Centre at 1-800-361-2808.