200,000 Canadian small businesses refinanced CEBA loans, risking high interest rates, prompting CFIB's call for financial relief in the federal budget.
200,000 small Canadian businesses took on new loans to refinance their Canada Emergency Business Account (CEBA) loans, in order to retain access to the forgivable portion, according to the Canadian Federation of Independent Business (CFIB). Many of these businesses now face high interest rates and may struggle to meet their payment obligations. The CFIB recommends that the federal government provide more financial relief measures in the upcoming federal budget to help small businesses deal with high operational costs.
March 26, 2024
11 Articles