Canada’s premiers have sent a joint letter to Prime Minister Justin Trudeau asking the federal government to extend the repayment period for a year for interest-free loans given to small businesses and non-profits during the pandemic.
The federal government’s Canada Emergency Business Account offered interest-free loans of up to $60,000 to small businesses during the COVID-19 pandemic.
B.C. Premier David Eby said in a letter Friday signed by all the premiers that small businesses, like most other Canadians, are feeling squeezed by the rising cost of housing, groceries and other daily essentials, and just when they are starting to recover after the pandemic they are facing higher inflation and interest rates.
“That’s