COVID-19 Update – Information on the Canada Emergency Commercial Rent Assistance Program
April 24, 2020
April 24, 2020
In his daily address, Prime Minister Justin Trudeau provided further details on the Canada Emergency Commercial Rent Assistance Program (“CECRA”), a program designed to support small businesses in conjunction with the provinces and territories.
Canada Emergency Commercial Rent Assistance Program
As covered in our April 16, 2020 COVID-19 bulletin, the CECRA is a collaborative cost-sharing program between the federal, provincial, and territorial governments to support small businesses for the months of April, May, and June.
The CECRA is expected to be operational by mid-May retroactive to April 1, 2020. The program will lower commercial property rent by 75% for small businesses affected by COVID-19. In order to be eligible for the CECRA, the small business must pay less than $50,000 per month in rent and have temporarily ceased operations or experienced at least a 70% drop in pre-COVID-19 revenues. Non-profit and charitable organizations are eligible for the CECRA.
Today’s bulletin covers today’s announcement on the CECRA and recent updates regarding Privacy and Freedom of Information legislation in B.C. and was written by Alissa Demerse, Keri L. Bennett, and Samantha Breslauer, articled student.
To read the April 24, 2020, information bulletin, please see the link below:
For any questions on any information contained in today’s bulletin, please feel free to reach out to a member of our firm.
All our previous COVID-19 information bulletins can be found on Roper Greyell’s COVID-19 resource page.