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ARTICLE · 20 MAY 2020

Update On Rent Relief For Canadian Small Businesses

Siskinds LLP
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On Friday, April 24, 2020 Prime Minister Trudeau announce more information regarding the Canada Emergency Commercial Rent Assistance ("CECRA") program.

CanadaReal Estate and Construction
Andrew MacIver
Andrew MacIver
Matthew Wilson, C.S.
Matthew Wilson, C.S.
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On Friday, April 24, 2020 Prime Minister Trudeau announce more information regarding the Canada Emergency Commercial Rent Assistance ("CECRA") program. When it was initially announced on April 16, 2020, little more was known about the CECRA program than that it would assist small businesses with rent for April, May and June. See our blog post regarding the initial announcement here.

What do we know Canada Emergency Commercial Rent Assistance program?

The new details about the CECRA program announced by Trudeau on Friday were confirmed in a news releases from the Prime Minister's office. The focus of the announcement was that the CECRA program will lower rent for small businesses that have been affected by COVID-19 by 75%. However, the additional details announced reveal that 75% lower rent for eligible businesses may be an oversimplification of what the program will offer.

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