How business owners can get ready for the CEBA loan forgiveness deadline

  • 📰 PGCitizen
  • ⏱ Reading Time:
  • 63 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 51%

日本 ニュース ニュース

日本 最新ニュース,日本 見出し

For businesses planning to borrow to take advantage of loan forgiveness, a secured loan can offer the lowest interest rate

Sign up for the Globe Advisor weekly newsletter for professional financial advisors on our sign-up page. Get exclusive investment industry news and insights, the week’s top headlines, and what you and your clients need to know. For more from Globe Advisor, visit our homepage.

“On top of that, the average small business has taken on more than $100,000 in debt just to survive the period of COVID restrictions … [that was] not for good things like [opening] a new location or [buying] a new piece of equipment, but just to keep the lights on.” According to Mr. Kelly, 70 per cent of CFIB members have not yet been able to repay anything toward their CEBA loans. While the CFIB continues to advocate for a further extension of the loan forgiveness deadline, Mr. Kelly recommends business owners take steps now to speak with their bank and arrange approval for a term loan at the best possible interest rate.

Mr. Ren adds that the upcoming CEBA deadline is a good reminder for advisors to look beyond a business owner’s growth plans and cash-flow planning to examine the liability side of the balance sheet, and also read the fine print of government programs such as CEBA that affect businesses. Industries haven’t bounced back the same However, Ms. Porter acknowledges that her clients, who include legal and dental professionals and other business owners who got back to full capacity quickly after the closures, aren’t facing the same challenges as harder-hit industries such as retail and restaurants.

このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

 /  🏆 65. in JP
 

コメントありがとうございます。コメントは審査後に公開されます。

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

How business owners can get ready for the CEBA loan forgiveness deadlineFor businesses planning to borrow to take advantage of loan forgiveness, a secured loan can offer the lowest interest rate
ソース: globeandmail - 🏆 5. / 92 続きを読む »