(File image credit: CKPGtoday.ca Staff)

By Adam Berls

ceba loans

Bachrach calling on feds to extend repayment period for CEBA loans

Jun 27, 2023 | 2:44 PM

PRINCE GEORGE — The MP for Skeena-Bulkley Valley is calling on the federal government to assist small businesses.

Bachrach wants the federal government to extend the repayment period for the Canada Emergency Business Account or CEBA loans.

In April of 2020, the federal government introduced CEBA to help small businesses forced to close or limit their operations due to public health measures. The program offered interest-free loans backed by the federal government.

The government-set repayment deadline for CEBA loans is December 31, 2023, but three years after the pandemic started, only 15 percent of recipients businesses have been able to make full repayment.

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