Mr. Speaker, the Canada emergency business account was offered during the COVID-19 pandemic. This was an interest-free loan for a term of two years or more, depending on the date, a portion of which can be partially forgivable as long as repayment is made in a timely manner. The loan can also be extended without the need for immediate repayment at the start of next year, and can be extended again until 2026.
In the House of Commons on October 30th, 2023. See this statement in context.