The Canadian Chamber of Commerce has written a letter to Deputy Prime Minister & Minister of Finance Chrystia Freeland calling for more time to repay Canadian Emergency Business Account loans.
They were loans those businesses took out during the pandemic.
Their deadline for repayment currently sits at the end of 2023.
The letter asks the minister to extend it by 2 years to the end of 2025 or at least 1.
Almost 900,000 loans were approved across Canada.
A recent survey of businesses found that nearly half are still making below normal revenue levels, and half of foodservice businesses are operating at a loss or breaking even.