An Ottawa accountant is urging the federal government to consider forgiving pandemic loans for small businesses, with many struggling to pay the money back by the extended deadline early in 2024.
Government loans can help pay for education, housing, business, and more. Federal grants are for organizations. Learn the differences between grants and loans and how to apply.
217 comments ; Prime Minister Justin Trudeau says the government is extending the repayment deadline for its small business pandemic loan program by one year — but businesses will still lose the forgivable portion of the loan if they don't repay in the coming months. 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 loan...
A GAO report found government estimates of federal student loans were off by $311 billion. Instead of generating a predicted $114 billion profit, the government is actually losing $197...
The federal government is offering bridge financing for big Canadian businesses across all sectors to help them keep employees on the payroll through the pandemic, but there are conditions attached...
The federal government is opening the doors to a loan program that will provide financing to Black-owned businesses that often face a steep hill to access capital.
Will states tax the federal government's COVID-19 lifeline for small businesses? Learn more about small business loan forgiveness (state tax SBA PPP loans).
the federal finance minister on Monday said the government would offer "bridge loans" to any large company with annual revenues of $300 million or higher that can't borrow by conventional...
Some small businesses say they might have to refinance their government-backed pandemic loans at higher interest rates if Ottawa doesn't extend the deadline for accessing the forgivable portion of...
178 comments ; Some Canadian banks are looking to make changes to their loan criteria so that small businesses hit hard by COVID-19 can access a new loan program designed by the government to help them, says Export Development Canada. Over the past week, banks started rolling out the federal government's $40-billion business credit availability program (BCAP). One of its programs involves banks directly giving small- and medium-sized businesses loans of up to $6 million. Export Development Canada (EDC) guarantees 80 per cent of the loan in the ...