Today Prime Minister Trudeau announced that he intends to extend the Canada Emergency Commercial Rent Assistance (CECRA) program by one month. The program was initially intended to support small businesses during the months of April, May, and June. The extension will see the program extended through to the end of July. The federal government is working with the provinces and territories to finalize the details.
Applications for the CECRA launched on May 25, 2020. The program, delivered in partnership with provincial and territorial governments provides forgivable loans to landlords of 50% of monthly rent, with the expectation that landlords and tenants will each contribute 25%.
The application is available through the Canadian Mortgage and Housing Corporation.
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