On April 29th the Government announced new details
concerning the CECRA program. Please visit
our more recent article to learn more.
On April 17, 2020, we published an article summarizing the
announcement from Prime Minister Trudeau that the Government of
Canada would be introducing the Canada Emergency Commercial Rent
Assistance program (CECRA) for small businesses. On April 24, 2020,
the Government announced the initial details of its partnership
with the provinces and territories of Canada for implementation of
the program. The press release outlining these details can be found
here.
The CECRA will be available to eligible small businesses,
meaning small business tenants that pay less than $50,000 per month
in rent, that have temporarily ceased operations or experienced a
70% drop in pre-COVID-19 revenues, and which rent their commercial
space from mortgaged property owners. This includes non-profit and
charitable organizations.
