Today, Prime Minister Justin Trudeau announced that the application process for the Canadian Emergency Commercial Rent Assistance (CECRA) is now open.
The program, delivered in partnership with provincial and territorial governments, will provide forgivable loans to landlords of 50% of monthly rent, with the expectation that landlords and tenants will each contribute 25%. The program applies to April and May (retroactive), and June rent.
CECRA is available for small businesses paying less than $50,000 per month in gross rent, with annual consolidated revenues of less than $2 million, and that have experienced at least a 70% drop in pre-COVID-19 revenues. Non-profit and charitable organizations are also eligible for CECRA.
Applications must be made through eligible property owners, not through the tenants.
To apply, visit the Canada Mortgage and Housing Corporation (CMHC) website.
The government released the following schedule for applications:
Consult the Sussex COVID-19 Guide for information on supports made available across the Federal, Provincial and Municipal Governments.
As the details of the programs announced today become available, let Sussex help connect you with the right people in government to help your organization get through these extraordinary times.
Please reach out to your Sussex representative directly or to a member of the Federal Government Relations Team.