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August 24, 2023

Grey County supports Canadian Federation of Independent Business call to extend CEBA repayment deadline

Downtown Owen Sound

Grey County Council is adding their voice to a call by the Canadian Federation of Independent Businesses (CFIB) to extend the loan repayment deadline of the Canada Emergency Business Account, commonly called CEBA. Council heard a delegation from the CFIB on August 10 and moved to contact local members of parliament requesting the extension.

According to CFIB, many small businesses are struggling due to pandemic-related debt and low post-lockdown sales. Hardest sectors hit are arts & recreation, hospitality (400 lost business days), event spaces, and gyms. More than 900,000 Canadian small businesses used CEBA loans during lockdowns. However, a concerning 43% risk missing the repayment deadline of December 31, 2023.

In response, CFIB launched a petition which is now at 30,000 signatures and growing. Your signature can amplify this collective voice, advocating for an extension crucial for local businesses. The final appeal is in September 2023, the last opportunity to ensure local businesses' concerns are heard.


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