Businesses could qualify for one more month of rent relief as program extended
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Hey there, time traveller!
This article was published 31/07/2020 (740 days ago), so information in it may no longer be current.
OTTAWA – The government announced on Friday that the Canada Emergency Commercial Rent Assistance program has been extended once again, and will now cover a portion of August’s rent for businesses that qualify.
To get the rent assistance, businesses will not have to prove a 70 per cent decline in sales for July or August, but will have to show a 70 per cent revenue shortfall that qualified them for CECRA in April, May and June.
The program’s low adoption rate was previously criticized by the Canadian Federation of Independent Business, which cited the onus on landlords and stringent requirements.
But on Friday, the government said that thousands of new applications are being regularly submitted, “demonstrating a strong interest in CECRA from property owners and small business tenants.”
About $613 million has been paid out to 63,000 tenants as of Thursday, the government said.
This report by The Canadian Press was first published July 31, 2020.