Many, if not most, businesses in Canada have been affected by the COVID-19 pandemic. Some major businesses are already looking at restructuring options. Many of these will be hoping that they are “too big to fail”. They may be right.
Loaning money to a family member or a friend can be a tricky situation: a personal relationship exists between the parties, the borrower may have a sudden financial hardship, and the lender may have a strong desire to help that person. Generally, it is better to provide a gift of a smaller amount