CEBA Loan Repayment Deadline Looms as Pandemic Small Business Rescue Program Expires
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CEBA loans of up to $60,000 were provided interest-free to nearly 900,000 Canadian businesses during the pandemic to help them survive.
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The first major CEBA repayment deadline is Thursday; businesses can have up to $20,000 of their loans forgiven if repaid by then.
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About a quarter of CEBA loans have been repaid so far; full repayment is required by the end of 2026.
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Some analysts fear business closures and economic impacts if many companies struggle to repay the loans.
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Administrative issues have plagued CEBA, but the program helped save many small businesses from bankruptcy during COVID-19 shutdowns.