Statement on Extension of CEBA Repayment
(Ottawa – September 13, 2023) – Today the Ottawa Board of Trade's President and CEO, Sueling Ching released the following statement from regarding the announcement of the Government of Canada and the extended deadlines for CEBA loan repayments.
"The announcement to extend the CEBA loan payment deadline by a year is a step in the right direction however, the eligibility to retain the forgivable portion for that same time frame is critical. An extension of a few weeks to realize the forgivable portion of the loan does not provide the level of support the hardest hit businesses need as they continue to recover from the pandemic.
Ottawa small businesses demonstrated great resilience during the pandemic, but at great cost. Many were forced to take on copious amounts of debt that have yet to be paid as revenues are not fully rebuilt and additional barriers ensue.
We cannot afford any more business closures that could be saved with simple policy and program changes. We need these businesses to drive our economic growth and community prosperity.
Extending the CEBA deadline including the eligibility for the forgivable portion will give the small business community the confidence and time they need to rebuild and move forward in uncertain times."
About the Ottawa Board of Trade:
The Ottawa Board of Trade is the voice of business and a key advocate for economic development in the national capital region. Our mission is to cultivate a thriving world class business community, one that drives community prosperity and builds an affordable, inclusive, and sustainable city. We also provide programs and services that help our members grow their business and their teams. We are an independent, nonpartisan, nonprofit association. We work with partners, staff and volunteers that are aligned with our values of collaboration, determination, future thinking, integrity, and passion.