Some business owners say CEBA deadline extension doesn't go far enough

"It was honestly a blessing," Nicastro said. "It helped us survive. It helped us ease the pressure of being closed and not seeing any customers and paying our staff."for debt forgiveness again to Jan. 18, 2024.Restaurant industry hasn't bounced back

While he does plan to pay back $40,000 by the deadline, he's heard from other friends in the industry that won't be able to make it. Of the 66,000 brick-and-mortar restaurants across the country, 54 per cent have an outstanding CEBA loan. "I noticed that from March 17 when we closed, straight through until the early part of 2022, businesses were either completely in lockdown or they were having mask mandates or other capacity restrictions," Davey-Quantick said.She said in 2023, with interest rate hikes and the price of everything going up, business essentially flatlined. Now with a looming deadline to pay back what she owes, it's not looking good.

"It's essentially like telling a consumer that is struggling to pay their Visa bill to just go out and apply for a MasterCard to solve their problems," Kelly said.

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Some business owners say CEBA loan deadline extension doesn't go far enoughSmall business and restaurant owners in eastern Ontario say the federal government's 18-day extension to qualify for debt forgiveness on their CEBA loans is hardly an extension at all.
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