The federal government is standing firm on the January 18th deadline for the Canada Emergency Business Account or CEBA loan repayments.

That means tense times for business owners across Canada as they try to recover from the hardships of the pandemic or decide to close their doors.

Christina Santini, the Director of National Affairs for the Canadian Federation of Independent Business, updates us on the current situation.

“We know that thirty five percent of our members have already repaid. Forty one percent have an outstanding loan balance but are currently in the process of trying to refinance it, and then twenty two percent have told us that they won’t be able to repay it by January 18th. That’s the twenty two percent that we are particularly concerned of.”

Based on survey data from March 2023, the CFIB has estimated that 19 per cent of small business owners across Canada would close their doors due to the financial pressures they are facing.

Santini says that translates into just over 200-thousand businesses whose loss will have impacts on them, their employees and, in turn, their communities.

To hear the full interview with Santini, catch Thompson Today this afternoon at 12:40 and 5:10.