Thank you. There are two distinct populations, and I'd like to make sure both are very clear to the committee.
The first population are those identified by EDC as part of our post-funding validations in the payroll stream. It's $2.2 billion. The payroll stream, again, was for small businesses with a payroll within the eligible range. At the beginning of the program, the funding was based on attestations from loanholders, similar to other COVID-19 programs. EDC had a post-funding validation process to make sure we identified a population of potential ineligibles. The Auditor General looked at that portion of our validation process and confirmed it was accurate. In terms of this identified population of potential ineligibles, we gave all loanholders an opportunity to correct any anomalies, as we should. The end population was 51,000, or $2 billion. Of that, $900 million has been repaid as of today, and $1.1 billion is subject to active collections. It's important to understand that this population is not eligible for forgiveness. They were notified at the end of 2022 and then received a courtesy reminder at the end of 2023. Again, we continue to collect on the remaining amount from this population.
The second population is potentially ineligible. It's $1.5 billion. This was based on the work of the Auditor General around the non-deferrable expense stream for expenses such as rent, insurance, utilities, etc. It's important to note that EDC's validation process prevented $5.5 billion of ineligible dollars going out the door. Based on the work of the Auditor General, we identified $10 million, or 200 loanholders who were potentially ineligible. That was then extrapolated to the full population for a potential of $1.5 billion in ineligibles. That is where the work needs to happen with Finance to analyze this population, which is 135,000 loanholders. About 1,000,000 documents were submitted. Some of the documents could have technical issues, such as a lease without a signature page. We want to give loanholders an opportunity to correct those anomalies—similar to what was done in the payroll stream—before concluding on a final population of ineligibles in this category.
Those are the two very distinct populations.