Only one out of every five small businesses believes that a change to the pandemic loan repayment deadline is helpful, a new survey reveals.
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An “overwhelming” majority did not find an extension of the Canada Emergency Business Account repayment deadline helpful, the CFIB said Thursday in a news release, as the deadline to repay the loan while securing the forgivable portion was moved from Dec. 31, 2023 to Jan. 18, 2024. The federal government announced the change on Sept. 14.
“The government gave small business owners false hope by announcing a one-year extension. But the extra year is only for those who miss out on the $20,000 forgivable portion, which small businesses are desperate to retain. … This announcement completely missed the most immediate priority of Canada’s small business community.”THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYUnlimited online access to articles from across Canada with one account.
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