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Pandemic business loan program lacked ‘value for money’: auditor general

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The small business loan program the federal government rolled out during the COVID-19 pandemic wasn't managed with 'due regard for value for money,' auditor general Karen Hogan said Monday.

Auditor general Karen Hogan is seen during a news conference in Ottawa on Monday, Dec. 2, 2024. THE CANADIAN PRESS/Adrian Wyld

Hogan said while Export Development Canada, which was responsible for the program, acted quickly to get the loans out, it relied on sole-source contracts and a single vendor without strong checks and balances. The auditor general’s report outlined the example of a call centre that was set up to provide information about the loan program.

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