Loan Repayment Extension: Canada is giving small businesses in Canada more time to pay back emergency loans offered during the COVID-19 pandemic, Prime Minister Justin Trudeau announced Thursday.
The Liberals have decided, after consistent calls from businesses, to give them another year to pay back their Canada Emergency Business Account (CEBA) loans, despite previously taking the position that repayment deadlines were “final and cannot be changed.”
“We know that some need a bit more runway,” Trudeau said.