Canada is giving small businesses in Canada more time to pay back emergency loans offered during the COVID-19 pandemic, Prime Minister Justin Trudeau announced Thursday. But, what has been offered falls short of business groups’ expectations.
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It’s definitely a relief to see Canada stepping up to support small businesses during these challenging times. Extending the repayment deadline for emergency loans to get $100 instantly is a crucial lifeline for many struggling entrepreneurs. However, it’s understandable that some may feel it falls short of what’s needed. Hopefully, this move will still provide much-needed breathing room for businesses to stabilize and recover.