Business group wants extension of pandemic loan repayment deadline, saying downtowns in trouble

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 65 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Federal action is needed to revive downtowns in Canada, says an organization that is calling on Ottawa to give businesses more time to pay back federally...

Federal action is needed to revive downtowns in Canada, says an organization that is calling on Ottawa to give businesses more time to pay back federally-backed pandemic loans.

"It's going to be much harder and more costly to bring back businesses and jobs than it is to keep the ones we have," she added. "It is time to put politics aside and have all levels of government work together to address homelessness, addictions and mental health concerns."Kate Fenske, chair of the International Downtown Association Canada, middle, called on Monday for an extension of the repayment deadline for Canadian Emergency Business Account loans.

"We're on our way but we're definitely not quite there just yet," he said. About one-third of businesses are in a good position to pay off their loans, he said.Katherine Cuplinskas, spokesperson for Deputy Prime Minister Chrystia Freeland, said in a statement on Monday that the government has already extended the repayment deadline.

"We didn't accumulate a single penny from the business to put toward the CEBA loan because the expenses are high so we cannot save anything."A woman reported missing from the Saik'uz First Nation nearly a month ago has been found dead, according to a media release issued by Carrier Sekani Family Services on behalf of the family. Chelsey Quaw , 29, was reported missing from Saik'uz Traditional Territory on Oct. 11.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines