For Canadians who participated in the Canada Emergency Business Account program during the period of COVID, Thursday makes for a significant day, with January 18th the deadline for repayment of any outstanding balances.
The program has been one with Skeena-Bulkley Valley MP Taylor Bachrach has called for an extension on for the deadline, as well as for loan forgiveness by the Federal government so as to give small business owners an opportunity to recover from the challenges of the COVID period.
The MP who sponsored a petition that had been initiated by the Prince Rupert Chamber of Commerce and raised the issue in the House of Commons, sponsored a private members motion that had called for the Federal government to extend the loan forgiveness deadline to the end of 2024.
As he notes in his statement of Monday, the Liberals have not addressed the issue and so far the Thursday deadline remains in place.
More background on the CEBA program can be found from the Federal Government website.
The Canadian Federation of Independent Business has put together some notes of advice for business owners facing the Thursday deadline.
The call for loan repayment is being seen by many as one which will have a significant impact on business and the economy.
Fears of Bankruptcy as small businesses stare down Federal CEBA loan deadline
Looming CEBA repayment deadline may take toll on economy, analyst say
Business groups sound alarm as fast-approaching CEBA's loan payback deadline as feds look to soften potential blow
Businesses hit deadline to repay CEBA loans: "It''s just not going to happen'
As clock ticks down to CEBA deadline, business owners plead for understanding from government
More notes from Ottawa can be reviewed through our House of Commons archive.
A wider overview of the Federal political scene can be found through our political blog D'Arcy McGee and our Ottawa Observations feature.
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