As part of the federal government’s economic response plan to COVID-19, the Canada Emergency Commercial Rent Assistance (CECRA) is intended to provide rent relief for small businesses. The program offers forgivable loans to eligible commercial property owners for the months of April, May and June.
Overview
The CECRA program is intended to reduce rent by 75% for small businesses who have been severely impacted by the economic downturn caused by COVID-19. The federal government is working with the provinces and territories to both jointly fund and implement the program which will be administered through the Canada Mortgage and Housing Corporation (CMHC), with the application available on their website.
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