Thousands of Canadian small businesses are facing financial uncertainty as they approach the deadline to repay Canada Emergency Business Account (CEBA) government loans acquired during the pandemic. Shockingly, only one-fifth of the nearly 900,000 approved businesses have repaid their CEBA loans as of June.
While the government has offered loan refinancing options, many businesses are encountering hurdles in obtaining approval or dealing with cumbersome application processes.
Vancouver-based fintech company, Merchant Growth, has stepped up to offer a solution in collaboration with Fortress Investment Group—a $300 million forward flow facility tailored for CEBA loan refinancing.
Want to know more? Check out the source code on Fintech.ca.