Government's $50-billion loan program coming due, but many businesses can't pay

OTTAWA – A $50-billion pandemic loan program is becoming a ticking time bomb for the government and Canadian businesses with six months left before the money is supposed to be repaid.

The government launched the Canada Emergency Business Account during the early months of the pandemic, offering businesses loans up to $60,000. While the loans were processed through regular banks and financial institutions, the federal government backed them leaving the liability on the government’s coffers. ---More...