Time’s Up to Repay Pandemic Loans for Partial Forgiveness, but Deadline Is Too Soon, Business Groups Say

A storefront on Roncesvalles Avenue displays a "for lease" sign as part of a protest against the Ontario government's pandemic lockdown rules in Toronto on Nov. 24, 2020. The Canadian Press/Jody White

Jan. 18 will mark the deadline for Canadian businesses to repay pandemic loans and receive partial forgiveness, a move that business groups say will spell closure for thousands of struggling companies.

“I believe the government will regret the decision to not grant more time as small businesses fail and default on their entire loan,” said Dan Kelly, president of the Canadian Federation of Independent Business, in a press release.