Rent Assistance Program

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Canada Emergency Commercial Rent Assistance Program (CECRA)

  1. Commercial property owners are being offered forgivable loans to cover 50% of three month rent payments.
  2. The loans will be forgiven only if the property owner agrees to reduce rent by at least 75 per cent for April, May and June.
  3. Landlords will absorb 25% of rent, the government and provinces will pay 50% and the tenant will pay 25%.
  4. CECRA will likely be operational by mid-May, with commercial property owners lowering the rents of their eligible tenants for the months of April and May retroactively, and for June
  5. The rent relief is based on the base rent and not net or total rent cost, which for some small businesses will still be a sizable bill to pay monthly.
  6. Property owners are prohibited from evicting the tenant while the agreement is in place.

Who is eligible 

Tenants who paid less than $50,000 per month in rent, have had to temporarily cease operations, or have experienced at least a 70% drop in pre-COVID-19 revenues.

This program is also made available to non-profits and charities.

The intention is to have commercial property owners lower rents for their tenants now and be paid retroactively for April, May and June.

Business Loan Programs

Business Credit Availability Program (BCAP)
EDC Loan Guaranteed –  small and medium-sized enterprises
Interest Free Loan