Government Announces Extension of Rent Relief for Small Businesses

Written by Ragini Joshi

Published on : September 10, 2020 10:26




Extension of Rent Relief for Small Businesses

Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, and the Minister of Small Business, Export Promotion and International Trade, the Honourable Mary Ng, announced that Canada Emergency Commercial Rent Assistance (CECRA) for small businesses will be extended by one month to help eligible small businesses pay rent for September. All provinces and territories continue to participate in this initiative and collaborate with the federal government to provide rent supports to those small businesses most in need. Current CECRA application deadlines will also be extended to accommodate this extension.

Across the country, thousands of small businesses that were forced to close or were especially hard hit have been able to use CECRA to help cover rent and position themselves to reopen as the economy reopens. As of September 7, 2020, over 106,000 small business tenants have been supported, representing 994,000 employees, for a total of over $1.32 billion in rent support.

The government is continuing to process thousands of applications worth hundreds of millions of additional dollars of support. Property owners are encouraged to continue to make use of CECRA for eligible tenants and to work to provide flexibility where possible to their tenants as they recover from the crisis. The federal government also continues to support the provincial banning of commercial evictions during the pandemic.

This will be the final extension of this program as the government explores options to support small businesses as they face the ongoing challenges of the COVID-19 pandemic — including the challenges of fixed costs at a time when health concerns and precautions prevent many businesses from operating at full capacity. The federal government will continue to ensure Canadian small businesses have the support they need.

Quotes
“Across Canada, small businesses are working hard to grapple with this crisis so they can serve their communities and provide jobs. Our government recognizes that while small businesses’ needs are evolving, many still require support to face the challenges of the COVID-19 pandemic. That is why we are extending the rent relief provided through CECRA by an additional month, to ensure that Canadian businesses hit hardest by COVID-19 get support when they need it most.”

– The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance

“As we work to safely reopen our economy, our government understands that things are still tough for our small business owners and that rent remains a major expense. That’s why we are extending the Canada Emergency Commercial Rent Assistance by one month to include September. We will continue to be there for our small business owners as we rebuild.”

– The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade