According to the Government of Canada, more than 29,000 businesses in Saskatchewan received CEBA loans. Only 12 per cent have repaid them. skpoli
According to the Government of Canada website, more than 29,000 businesses in Saskatchewan received CEBA loans. Only 12 per cent have repaid them.
“Most business owners want to repay the loan on time in order to secure the forgivable portion, but many of them still can’t guarantee they can do it,” said Simon Gaudreault, chief economist and vice-president of research at CFIB.Article content “If we have to bear the burden of repaying all $60,000 plus interest, that would be very devastating to our business,” said Moore.
“The CEBA loan, which once served as a pivotal economic lifeline during the nearly two years of COVID restrictions, is now a source of immense stress and anxiety for small businesses,” said Corinne Pohlmann, Senior Vice-President of National Affairs at CFIB. “Ottawa must give them more time, or we will see more ‘permanently closed’ signs in the coming months.”
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