For immediate release September 15, 2023
(Mississauga) – Dear MBOT members,
The Mississauga Board of Trade, along with many local chambers of commerce across the country, advocated for an extension of the CEBA loan payment deadline. This week, our efforts paid off.
The Government of Canada has agreed to extend the repayment deadline to accommodate for the needs of businesses that have continued to struggle post-pandemic. While the extension is not to the extent many requested, it is a step in the right direction.
It is important to note that as of June, 2023, only about one-fifth of CEBA loans had been repaid. Under the current repayment terms and in a slowing economic environment with high inflation, many businesses will still be challenged to make ends meet. In light of these circumstances, MBOT will continue to be on the front lines advocating for business and the business community in Mississauga.
Brett McDermott, Director of Government and Stakeholder Relations
About the Mississauga Board of Trade
Since being established in 1961, MBOT has played an important leadership role serving and representing the interests of business of all sizes and sectors in our community.
Mississauga is Canada’s sixth largest city and third largest in Ontario – with a population of over 700,000 residents and more than 50,000 businesses employing over 440,000 people, including 60 Fortune 500 Canadian headquarters. Mississauga is where successful companies choose to do business. MBOT’s large, diverse and active membership has made us one of the most vibrant business associations in Canada.
As the “Voice of Business” we advocate on policy issues that impact local business at all levels of government and are influential in helping to shape policy decisions. MBOT also offers a wide variety of valuable business services and professional development programs, networking events and marketing opportunities, to help business grow, prosper, and get connected.