Mother's Day Contest - CIBIA
April 26, 2022
The Prime Minister in conjunction with the provincial governments announced the Emergency Commercial Rent Assistance (CECRA) which will lower rent costs by 75 per cent for small business tenants that have been affected by the COVID-19 shutdown. Qualifying commercial property owners will receive forgivable loans, to cover 50 per cent of three monthly rent payments from small businesses facing financial hardship during April, May, June. On June 30th the government announced the extension of the program to include July as well. The CMHC administers CECRA for small business on behalf of the Government of Canada and the Province.
The federal government has confirmed that CECRA is available to all landlords, regardless of whether or not they currently have a mortgage.
For more up-to-date details visit the Canada Mortgage and Housing Corporation website: https://www.cmhc-schl.gc.ca/en/finance-and-investing/covid19-cecra-small-business