Thursday is the last day that small businesses have to repay their Canada Emergency Business Account loans, and the Jobs and Economy Critic for the Saskatchewan NDP is calling for action, as many won’t be able to.

Aleana Young wrote letters to both the provincial and federal finance ministers, stating that 29,000 small businesses in Saskatchewan took CEBA loans, and 45 per cent still have not been able to repay them due to inflation rates, increased costs, and power bill hikes.

Her letter reads that the potential loss of thousands of small businesses would be detrimental to Saskatchewan’s economy and asks the ministers to put forward a real solution.

The interest-free loans of up to $60,000 were introduced by the federal government during the Covid-19 pandemic to help small businesses stay afloat. Thirty-three per cent forgiveness was offered on the loans for those who would be able to pay it back by January 18th, 2024.