As financial institutions send out notices for repayment of emergency business loans, some merchants are learning they’re already in default, The Globe and Mail reports. Canadian Federation of Independent Business president Dan Kelly said dozens of business owners have contacted his organization because their Canada Emergency Business Account loans have retroactively been judged improper, with no explanation or avenue of appeal.
The office of the international trade minister said the government will “continue to work with business” who may need time to repay their loans.
