Canada Emergency Rent Subsidy (CERS)
November 20, 2020 update: The new Canada Emergency Rent Subsidy will be open for applications on Monday.
The new Canada Emergency Rent Subsidy (CERS) provides financial assistance for eligible fixed property expenses, including rent and interest on commercial mortgages until June 2021, CERS replaces the previous Canada Emergency Rent Assistance (CECRA) program that expired on September 26, 2020.
Qualifying businesses, charities and non-profits would receive a subsidy of up to 65% of eligible expenses until December 19, 2020 and retroactive to September 27, 2020.
Qualifying organizations that have been significantly affected by a mandatory public health order issued by a qualifying public health authority would receive an additional 25% of rent support through the CERS.
Combined with the other support received under the CERS, this means that hard hit businesses, non-profits, and charities could receive a rent subsidy of up to 90%.
The CERS including the Lockdown Support would be available until June 2021.
Canada Emergency Commercial Rent Assistance Program
September 26, 2020 update: the Canada Emergency Rent Assistance (CECRA) program expired on September 26, 2020 .
April 24, 2020 update: The rent relief plan, to be funded jointly with the provinces, will provide non-repayable loans to commercial property owners to cover 50 per cent of rent payments for April, May and June.
The loans will be forgiven if the property owner agrees to cut the rent by at least 75 per cent for those months and promises not to evict the tenant. The small business tenant must cover the remaining portion of the rent, which would be up to 25 per cent.
To qualify, small business tenants must pay less than $50,000 a month in rent. They also must have experienced a revenue decline of at least 70 per cent from pre-COVID-19 levels, or they must have been forced to close down because of pandemic restrictions.
Non-profit and charitable organizations are also eligible.
April 16, 2020 Update: Trudeau also announced a new Canada Emergency Commercial Rent Assistance program, which will help small businesses pay their rent for April through June. More details will be on the way after the federal government convenes with individual provincial leaders.