‘Many closures’: Sask. business analyst says many still struggling to pay back pandemic loan ...Middle East

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‘Many closures’: Sask. business analyst says many still struggling to pay back pandemic loan
source : canadian news today ( Middle East ) () 15
Following the Jan. 18 deadline for small businesses to pay back the Canada Emergency Business Account (CEBA) many small businesses in Saskatchewan are still trying to navigate how to make that possible. The Canada Emergency Business Account (CEBA) loan was an emergency payment offered to small businesses during the pandemic, it provided up to $60,000. If the loan was paid by the Jan. 18 deadline up to one-third could have been forgiven, otherwise the debt converted into a three-year loan with five per cent annual interest. A total of 29,000 small businesses in Saskatchewan took out a CEBA loan, according to Brianna Solberg, a senior policy analyst with the Canadian Federation o

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