Businesses can now apply for financial aid without the need for landlord’s approval
With more lockdowns already implemented in certain areas--Toronto and Peel--and the possibility that more regions could be added to the list if the number of new COVID-19 cases continues to climb, many businesses are once again at risk of being unable to pay rent.
When the initial lockdown was implemented in the Spring, the federal government instituted an assistance program that was widely criticized by business owners due to the fact it required landlords to apply for it--it also required landlords to forego 25 per cent of the rent their tenant would normally pay, something many were reluctant to do.
However, with a second round of lockdowns already underway, the government has implemented a new form of relief for businesses that does not require a landlord's approval for business owners to apply.
The Canada Emergency Rent Subsidy (CERS) is intended to provide direct relief to businesses, non-profits, and charities that continue to face economic hardship due to the pandemic.
The CERS has an application form that guides applicants through a step-by-step process that allows them to determine the subsidy amount they can claim, based on the information they enter.
Applications are now open, and the Canada Revenue Agency (CRA) will begin processing applications on November 30, with payments expected to begin on December 4.
“Since the beginning of the pandemic, our government has provided continued support to businesses and workers. With the application process for the rent subsidy and Lockdown Support now open, employers impacted by COVID-19 will be able to access the help they need to get through the winter and the second wave of the virus," Deputy Prime Minister and Minister of Finance Chrystia Freeland said in a news release.
"We will continue to do what it takes to support Canadians through this crisis," she continued.
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