Businesses could qualify for one more month of rent relief as program extended
By CP STAFFGeneral Government Canada Emergency Commercial Rent Assistance CFIB COVID-19 Feds Rent relief small business
About $613 million has been paid out to 63,000 tenants as of July 30
OTTAWA — The government announced on July 31 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% decline in sales for July or August, but will have to show a 70% 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 July 31, 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 July 30, the government said.