Abbotsford – On Thursday September 14, the Federal Government extended the Canada Emergency Business Account (CEBA) repayment deadline for the small business pandemic loan program by one year, signalling a need to respond to Canada’s small business owners.
“The Abbotsford Chamber of Commerce is cautiously optimistic regarding today’s announcement by the federal government to extend the repayment deadline for CEBA loans. A one year extension provides small businesses with additional breathing room, however, we must not forget that economic recovery in Canada is still underway.
Abbotsford’s small businesses are still being affected by key challenges from the lasting impacts of the pandemic, labour shortages, disruption to supply chains, and rising inflation and interest rates.
Pandemic financing was meant to keep businesses afloat, and the Chamber will continue to monitor the implementation of this announcement to determine whether the length of the loan extension is significant enough to meaningfully reduce the risk of business failure for the small businesses that need support the most.”
– Alex Mitchell, Chief Executive Officer, Abbotsford Chamber of Commerce
For more information on the CEBA program, businesses can visit https://ceba-cuec.ca/
