July added to COVID-19 commercial rent-relief program

OTTAWA -- Federal and provincial governments have agreed to extend a commercial rent relief program to help cover July costs for eligible small businesses, with a few changes.
The Finance Department says the program will no longer clawback the costs of insurance proceeds and provincial rent supports from the forgivable loans for current and new applicants.
Previous clawback amounts will be given back to landlords that previously received loans through the program.
As well, those who qualified for loans by showing revenue declines of 70 per cent in April, May or June will qualify anew without being reassessed on whether their earnings have dropped that much in July.
As of June 21, the program had doled out $152 million in forgivable loans to landlords that agreed to give a rent break to more than 20,000 tenants.
The Canadian Federation of Independent Business had said that many small businesses believed they couldn't afford rent for July unless the Liberals extended the program.
The Canadian Press
Related
- Take commercial landlords ‘out of the equation’ for rent relief, says CFIB
- As feds audit landlords over rent aid, businesses fall through cracks of new program
- Long-awaited federal rent subsidy program for businesses hurt by COVID-19 opens today
- Rent to be lowered by 75 per cent for small businesses affected by COVID-19
- Province encouraging commercial landlords to apply for rent relief for their tenants
Trending
- Drugs found at kids playland, 19 from Brampton busted as international trafficking ring smashed, police release all names
- House of the week: Spectacular $4.3 mil Lorne Park home with wine cellar
- Police on scene in Brampton after man found with serious injuries, sources say gunplay suspected
- Fido and Rogers report Canada-wide service disruptions
- Here's where the new Automated Speed Enforcement cameras are in Mississauga
Your Comments