Deadline extended for CEBA repayment

Small businesses will have an additional year to repay loans from the Canada Emergency Business Account, Prime Minister Justin Trudeau announced this week. Borrowers now have until Dec. 31, 2023 to pay the loans back without interest. Those who repay in time can also qualify to have part of their debt forgiven. According to a government press release, loans not repaid by that time will be converted to two-year term loans at five percent interest, coming due Dec. 31, 2025.