In addition to an extention of CEBA loans, Battlefords Chamber of COmmerce members have new avenues for rapid test distribution. (File photo/battlefordsNOW)

By battlefordsNOW Staff

Deadline pushed back

Battlefords members get loan extension, new rapid test distribution

Jan 17, 2022 | 4:27 PM

Businesses in Saskatchewan have a slight extension on when it comes to loan payments.

The Canada Emergency Business Account (CEBA) program, provides interest-free, partially forgivable loans to small businesses and non-profits during the pandemic, will now have a repayment deadline for loans on Dec. 31, rather than this upcoming New Year’s Eve. This gives businesses roughly two years to pay the loans back.

In a media release, Deputy Prime Minister and Minister of Finance Chrystia Freeland said the Omicron variant has delayed recovery for businesses in many parts of the country.

“Providing small businesses with additional time to repay their loans and still have partial loan forgiveness, affected businesses and workers will continue to have the support they need to get through the pandemic,” she said.

Battlefords Chamber of Commerce COO Linda Machniak said the Canadain Chamber network had asked the government for the deadline to be pushed till 2024, but not that this is still important breathing room.

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“That allows businesses one more year to get things back on track from their COVID situations, in order to get that payment made,” she said. “It does provide some breathing room.”

Repayment on or before the deadline will result in loan forgiveness up to a third of the value of the loans, or up to $20,000. Machniak noted those who miss the deadline would have the total converted to two-year term loans, operating at five per cent interest.

“If it’s not paid, you still have a loan to pay, but won’t get forgiveness on it,” she said. “Whereas you still be given the rebate back on some of it if payment is on time, which is critical for many businesses.”

The Chamber network had also advocated for industries hardest hit by lockdown measures, such as event centres, hotels and other tourism related businesses. Currently, Saskatchewan’s government restrictions are not as impactful as those in provinces like Ontario.

“It will be a bit of a wait and see, but as I said, it will still be a loan with their financial institution if they can’t pay, it just doesn’t give them the loan forgiveness,” Machniak said.

Around 900,000 partially forgivable loans have been provided across the country.

Other options for rapid test distribution

The Battlefords Chamber is directing businesses through other channels for procuring Rapid Antigen test kits, following new guidelines from the Saskatchewan Public Safety Agency. Businesses larger than 10 employees are to register for the Pharmacies program through the federal government.

“The businesses will get notification where they can pick them up from a pharmacy and get their bulk orders,” Machniak said.

For community groups like non-profits that have requests for larger quantities of tests, the registration process is available through the Canadian Red Cross supply chain. Machniak said there will still be support from the Chamber with an emergency situation, so long as it is communicated in time.

With the SJHL season back in swing, members of the Battlefords North Stars will participate again with the drive through service provided Mondays and Thursday at the chamber office.

Machniak said they’re excited to have the players back, though though some of their schedule will likely change given the adjustment of games due to teams with players testing positive for COVID-19.

“They’ve been helping us and been awesome,” she said.

Members of the public getting tests for their households on Monday and Thursday can do so from 1:00 p.m. – 4:00 p.m.

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cjnbnews@pattisonmedia.com

On Twitter: @battlefordsNOW