You bring up an excellent point about the timeline. A year ago, 2022 seemed like plenty of time to repay loans, but here we are a year later in the third wave. Small businesses are pretty maxed out in terms of debt capacity. Extending that repayment timeline is something that would be a good use of government time to revisit, particularly for small businesses.
That being said, I think extending the loan is also something they could do. That's also an example of where it's time to start tailoring those supports to the businesses in the sectors that really need it, versus a broad blanket open to everyone, including those who may not necessarily need access to that additional loan. It should be more targeted towards those hardest-hit sectors.