‘Might not recover’: Atlantic Canadian businesses struggle to pay back pandemic loans – New Brunswick | Globalnews.ca ...Middle East

As Thursday rolls around, hundreds of thousands of Canadian businesses and non-profits will reach the repayment deadline on any outstanding debt from federal government loans received through the Canada Emergency Business Account (CEBA) program during the pandemic. Up to one-third of the maximum $60,000 will be forgiven if a business is able to pay back its remaining balance by today, otherwise the loans will be converted to three-year term loans with a five-per cent annual interest rate. Marc Légèr, owner of the Laundromat Espresso Bar and the Notre dame de Parkton sandwich shop in Moncton, said he needed the $60,000 CEBA amount “quite urgently” when COVID restrictions forced his busines

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