CEBA Repayment Deadline Arrives for Small Business Owners

Published on January 18, 2024

Time has almost run out for Canadian business owners to repay pandemic loans and receive partial forgiveness. The federal government’s Jan. 18 deadline for firms to repay Canada Emergency Business Account (CEBA) loans has arrived and Canadian Federation of Independent Business (CFIB) CEO Dan Kelly said it could push many small companies out of business. “I believe the government will regret the decision to not grant more time as small businesses fail and default on their entire loan. For many businesses, CEBA will be the straw that breaks the camel’s back,” Mr. Kelly said in a Jan. 17 statement. Ottawa paid out upwards of $49 billion to almost 900,000 businesses across Canada through its CEBA program to help business owners make ends meet during closures and other restrictions put in place during the COVID-19 pandemic....

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