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Call to extend CEBA loan repayment deadline by two years: Abbotsford Chamber signs joint letter to Deputy Prime Minister

(ABBOTSFORD) July 26, 2023 — The Abbotsford Chamber of Commerce is calling on the federal government to extend the repayment deadline for CEBA (Canadian Emergency Business Account) loans for struggling businesses.

The Abbotsford Chamber also signed on to a national letter to Canada’s Prime Minister and Minister of Finance alongside from 250 organizations representing thousands of businesses across Canada, in calling on the federal government to extend the repayment deadline for CEBA (Canadian Emergency Business Account) loans for businesses.

This letter follows the Abbotsford Chamber of Commerce’ work in bringing forward a resolution that was adopted by the full membership of the BC Chamber of Commerce earlier this June.

“With the deadline approaching for CEBA loan repayment, businesses need more time. Economic recovery in Canada is still underway, affected by key challenges from the lasting impacts of the pandemic, labour shortages, disruption to supply chains, and rising inflation and interest rates,” said Alex Mitchell, CEO of the Abbotsford Chamber of Commerce.  “Pandemic financing was meant to keep businesses afloat, and extending the CEBA loan forgiveness deadline for qualifying businesses will help reduce the risk of business failure for many of the small businesses that need support the most.”

In response to the COVID-19 pandemic’s effect on the economy in 2020, the Government of Canada launched the CEBA loan program, with eligible businesses receiving up to a $60,000 interest-free loan. The current deadline to repay the loan on or before December 31, 2023, for eligible CEBA borrowers in good standing, will result in loan forgiveness of up to 33 percent (up to $20,000). For the latest information on the CEBA loan program, visit


The Abbotsford Chamber of Commerce serves the business community of Abbotsford with an attitude of vibrant engagement and proactive advocacy. The Abbotsford Chamber is nationally accredited to meet standards of business excellence and provide benefits to its member organizations.

In 2023, the Abbotsford Chamber of Commerce is celebrating its 110th year of service. Created to promote the interests of businesses in the City of Abbotsford, the Chamber has been an integral part of Abbotsford’s growth and evolution for nearly as long as the city has existed.

Media enquiries:

Alex Mitchell CEO
Abbotsford Chamber of Commerce





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