What is the CECRA?
The federal government launched the CECRA program to provide
financial assistance to small businesses in respect of their
commercial rent. The program is administrated by the Canada
Mortgage and Housing Corporation (CMHC) on behalf of the Federal
Government and its provincial and territorial partners. It offers
commercial rent assistance for the months of April, May, and June
2020.
The program has been available for application since May 25,
2020, and can be applied retroactively. Property owners are
encouraged to participate in the program to assist tenants affected
by COVID-19.
How Does the CECRA Work?
Commercial property owners will reduce rent by at least 75% for
the months of April, May, and June 2020 for their small business
tenants.
