Extending CEBA forgiveness deadline another year would cost Ottawa $907M: PBO | CBC News ...Middle East

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Extending CEBA forgiveness deadline another year would cost Ottawa $907M: PBO | CBC News
source : canadian news today ( Middle East ) () 16
Pushing back the deadline for businesses to repay their government-backed pandemic loans in order to access the forgivable portion would cost Ottawa $907 million, according to an estimate by the parliamentary budget officer (PBO). The Canada Emergency Business Account (CEBA) was introduced at the height of the pandemic to help out 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. A business could apply for up to $60,000 through the program. Up to $20,000 would be forgiven if the rest was repaid by a certain date. The government recently granted a small extension to the deadline

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