Called Canada Emergency Commercial Rent Assistance (CECRA) the plan will see
support for small and medium-sized businesses that pay commercial rent for
their business premises.
This relief can’t come soon enough for many UCDA members whose landlords
still expect to be paid on time.
Prime Minister Trudeau did not provide details on the new program,
but said Ottawa would have to collaborate with the Provinces in order to set
it up. Early indications are the plan will provide loans and/or forgivable
loans to commercial property owners who in turn will lower or forgo the rent
of small businesses for the months of April (retroactive), May, and June.
We will provide more details when we have them.
In other news, the previously announced Canada Emergency Business Account
(CEBA) business loan program of $40,000, which originally required a
business to have a payroll of $50,000 to $1 million, has been relaxed to
allow applicants in with payrolls of $20,000 to $1.5 million.
For more information on CEBA please visit: