Small businesses eligible to have rent lowered by 75 per cent: PM
Prime Minister Justin Trudeau addresses Canadians on the COVID-19 pandemic from Rideau Cottage in Ottawa on Thursday, April 16, 2020. THE CANADIAN PRESS/Sean Kilpatrick.
Prime Minister Justin Trudeau announced more support for small businesses on Friday morning.
The Canada Emergency Commerical Rent Assistance program will lower rent by 75 per cent for small businesses for April, May, and June–half will be covered by the federal and provincial governments and the rest covered by the landlord or owner, said Trudeau.
That means small businesses will pay 25 per cent of their rent.
The assistance program is expected to be going by mid-May and businesses with rent less than $50,000 a month are eligible.
Charities and non-profit organizations are also eligible.
Trudeau said supports for larger businesses are also on the way.
The Prime Minister also mentioned that talks on how to gradually re-open the economy with premiers will be happening soon.
The Canadian Armed Forces will assist Ontario and Quebec who made calls for help at their long-term care facilities that are dealing with outbreaks of COVID-19.
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Small businesses eligible to have rent lowered by 75 per cent: PM
Prime Minister Justin Trudeau addresses Canadians on the COVID-19 pandemic from Rideau Cottage in Ottawa on Thursday, April 16, 2020. THE CANADIAN PRESS/Sean Kilpatrick.
Prime Minister Justin Trudeau announced more support for small businesses on Friday morning.
The Canada Emergency Commerical Rent Assistance program will lower rent by 75 per cent for small businesses for April, May, and June–half will be covered by the federal and provincial governments and the rest covered by the landlord or owner, said Trudeau.
That means small businesses will pay 25 per cent of their rent.
The assistance program is expected to be going by mid-May and businesses with rent less than $50,000 a month are eligible.
Charities and non-profit organizations are also eligible.
Trudeau said supports for larger businesses are also on the way.
The Prime Minister also mentioned that talks on how to gradually re-open the economy with premiers will be happening soon.
The Canadian Armed Forces will assist Ontario and Quebec who made calls for help at their long-term care facilities that are dealing with outbreaks of COVID-19.
Share This Story, Choose Your Platform!
you might also like
news via inbox
Get Connected! Sign up for daily news updates.