Skeena-Bulkley Valley MP Taylor Bachrach is calling for an extension to the repayment period for business loans granted during the pandemic.
In April of 2020, the Federal Government introduced the Canada Emergency Business Account program to help keep businesses afloat.
It offered small businesses forced to close or limit operations during the pandemic with government-backed, interest-free, loans.
A repayment deadline was set for December 31st of this year, but nearly half of small businesses have yet to return to pre-pandemic revenues.
To date, just 15 percent of recipients have paid back the entirety of their loans amid the rising inflation and labour costs which followed the pandemic.
Now, Bachrach is joining other NDP MPs in calling for a one year extension to the deadline to help businesses find their way.
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