My motion calling on the federal government to extend the Canada Emergency Business Account (CEBA) loan repayment deadline passed at City Council this week.
City Council passed my motion this week to support small businesses by endorsing an official request to extend the Canada Emergency Business Account (CEBA) loan repayment deadline.
Many of our local businesses are still struggling to recover from the pandemic, highlighted in a Broadview Danforth BIA survey released last month. Many of the 500 Toronto small businesses surveyed fear they won't be able to repay their CEBA loans by the December 2023 deadline in order to receive the $20,000 in promised debt forgiveness.
This request sends a clear, strong message to the federal government and our local MPs that we expect them to do the right thing and support local businesses with this extension.
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