The premiers of all 13 of Canada’s provinces and territories have written to Prime Minister Justin Trudeau calling for the repayment deadline for Canada Emergency Business Account loans to be extended. By the end of last June, only a fifth of the some 900,000 businesses who took out loans under the program had repaid in full.
“The same loan that was once a lifeline during the pandemic is now threatening to sink the small businesses that are only just getting by,” the premiers wrote. The federal government recently added a few weeks to the deadline, moving it from this coming December to Jan. 18, 2024. The letter endorses calls from many small businesses for a full year’s extension.
