OTTAWA — The Liberal government on Thursday said it was working to amend a key loan program available to small businesses, after a large number of cash-strapped companies said they were unable to access the government support.
“We’re working hard to make sure that we find a solution for these businesses as well through this challenging time,” Ng said. In a statement on April 14, the Canadian Federation of Independent Business said the CEBA provided “welcome relief” for firms, but said one in five businesses were deemed to small for the program due to payroll thresholds.
Maich said Ottawa needs to be far more transparent about how it reports the details of eligibility requirements for the loans, which are administered by the Crown corporation Export Development Canada. He said more detailed and transparent reporting by EDC is especially necessary when the EDC is dishing out vast sums of taxpayer dollars.