Canadian Government's Pandemic Loans

This is a news story, published by financialpost, that relates primarily to the Canada Emergency Business Account news.

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Canada Emergency Business Account

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Canadian businesses

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Canada paid $3.5 billion in COVID-era loans to ineligible businesses, auditor general says

Summary

Nutrition label

75% Informative

About $3.5 billion was paid out to more than 77,000 ineligible businesses that applied to the Canada Emergency Business Account .

That’s nine per cent of the nearly 900,000 Canadian businesses that received loans through the program.

The interest-free loans of up to $60,000 were quickly doled out to help small- and medium-sized Canadian firms with payroll, rent and insurance as businesses were shuttered to control the spread of the coronavirus.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful