Federal government extends commercial rent relief program through August
The federal government has announced it is extending the Canada Emergency Commercial Rent Assistance (CECRA) program through the month of August. The CECRA, announced in April by the federal government, will lower rent by 75 percent for small businesses that have been affected by COVID-19. The CECRA allows small businesses to pay just 25 percent of their monthly rent, with governments and property owners absorbing the remaining 75 percent. Property owners will need to opt into the CERCA in order for businesses to be able to benefit from the program. Originally intended to span April, May and June, on June 30, the program was extended through the month of July.