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Canadian Businesses Lean on New Installment Loans For Debt Repayment as Delinquencies Rise

Summary by Financial Post
TORONTO, June 18, 2024 (GLOBE NEWSWIRE) -- According to the latest data from Equifax® Canada’s Market Pulse Q1 2024 Business Credit Trends Report, new installment loan originations surged by 74 per cent year-over-year in the second half of 2023. Businesses that raced to meet the Canada Emergency Business Account (CEBA) forgiveness deadline of January 18th, 2024 could potentially be driving this higher-than-seasonal demand.
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