Chrystia Freeland (source: Government of Ukraine, used under Creative Commons licence)
OTTAWA — The federal government will make loans available through the Canada Emergency Business Account program up to October 31. The program, which was due to expire this week, allows qualifying small businesses and not-for-profits to apply for interest-free loans of up to $40,000 to cope with the impact of the pandemic. Initially launched in April, it was expanded in June to include owner-operated businesses with no payroll and family-owned corporations.
Chrystia Freeland, who was shuffled into the finance minister’s portfolio in mid-August, also announced this week the government would work with banks to expand access to CEBA. To date, businesses operating on personal bank accounts, for example, have been unable to apply.
