Commercial Rent Assistance – Now Open for Application

Our Government is unwavering in its support for Canadian workers and their families as we deal with the COVID-19 pandemic.

Last month, we reached an agreement with all provinces and territories to implement the Canada Emergency Commercial Rent Assistance (CECRA), which will provide forgivable loans to eligible commercial property owners, allowing them to reduce rent by 75% for April and May (retroactive), and June, to their small business tenants.

This week, the Prime Minister announced that application documents and updated criteria for CECRA for small businesses are now available through the Canada Mortgage and Housing Corporation website, and the program is now open for applications.

The Government is taking a staggered approach to applications. Please see the chart below:

 

Day Who should register?
Monday Property owners who are located in Atlantic Canada, BC, Alberta and Quebec, with up to 10 tenants who are eligible for the program
Tuesday Property owners who are located in Manitoba, Saskatchewan, Ontario and the Territories, with up to 10 tenants who are eligible for the program
Wednesday All other property owners in Manitoba, Saskatchewan, Ontario and the Territories
Thursday All other property owners in Atlantic Canada, BC, Alberta and Quebec
Friday All

Visit the CMHC website for more information.

Posted in News.