On April 24, 2020, The Canadian Federal Government provided some
details about the new Canada Emergency Commercial Rent Assistance
program (CECRA) for small businesses and commercial landlords. The
CECRA was announced on April 16, 2020 to provide relief for small
business tenants and, in some respect, landlords.
Under the CECRA, the Federal Government will offer forgivable
loans to the landlord equal to 50% of three monthly rent payments
that are payable by eligible small business tenants who are
experiencing financing hardship in April, May, and June. The loans
will be forgiven if the mortgaged property owner agrees to reduce
the small business tenants' rent by at least 75%, with the
remaining 25% or less covered by the tenant.