CEBA

[bucket]

Loan participants are asking for another extension .

Just wondering what farm groups will ignore that headline.

[Marusko]

heard that on the radio this morning. 13% of CEBA loans have been paid back. Surprises me that there were any as it's hard to get cheap debt these days and you can get decent interest with that money in a savings account or GIC now. I personally don't mind if it gets extended. that said... we've transitioned into the post covid world... so the reason for the loan is passed. seems like majority are back to normal now so if you're having trouble making a go of it this year, it might never work for you without another paradigm shift.

[bucket]

It was a hidden bank bailout , once the government decides what they want to do, those loans will be transferred to the bank to deal with interest charges.

Had 90% got repaid it probably wasn't a bad idea, but since they went zero interest on student loans , CEBA will be extended or forgiven depending on how much Trudeau needs the votes.

[Taiga]

100% it was a bank bailout. Bank tried really hard to get me to take the ‘free money’, I mean multiple calls and wanted to come visit, it was very obvious there was something behind their persistence.

[Oliver88]

Count on more taxpayer $ being wasted hiring bureaucrats for CEBA audits and collections.

[bucket]

Bank manager mentioned that audits would be common with this program.

[Marusko]

Bank manager mentioned that audits would be common with this program.

Audit for what? your entire income tax return? or for the need for the loan?

[bucket]

Audit for what? your entire income tax return? or for the need for the loan?

Not sure , there wasn't really a reason given but they must have known something back then to make the statement.