Prime Minister Justin Trudeau. (Canadian Press)

By David Opinko

Applications for Emergency Commercial Rent Assistance now open

May 25, 2020 | 10:36 AM

OTTAWA, ONT – Small business owners in Alberta can now apply for emergency aid to cover the cost of rent.

The Canada Emergency Commercial Rent Assistance (CECRA) program is now open for applicants in parts of the country.

“We all need to work together if we want our economy to come out strong after this pandemic. This program will help property owners, small businesses, workers, and our communities make it through this difficult time,” says Prime Minister Justin Trudeau. “Small businesses are the backbone of this country. We need to be there to support them when it matters most.”

CECRA provides forgivable loans to landlords that will reduce the cost of rent for commercial tenants and non-profit organizations by at least 75 per cent for April and May retroactively and June.

The Commercial Rent Assistance program will cover half of the rent amount, while the property owner forgives at least 25 per cent.

Week-in-review: Passenger rail, a big investment in Coaldale and an NFL draftee from Lethbridge

2h ago

What's Happening in Lethbridge this weekend: May 3, 2024

20h ago

Week-in-review: Municipal election changes, a leadership debate and green bins

Apr 27, 2024

It aims to help out small business tenants that are paying less than $50,000 per month in gross rent, with annual consolidated revenues of less than $2-million, and that have experienced at least a 70 per cent drop in pre-COVID-19 revenues.

The program will be incrementally rolled out across Canada this week. The dates are as follows:

• Monday, May 25: Property owners who are located in Atlantic Canada, British Columbia, Alberta, and Quebec, with up to 10 tenants who are eligible for the program.
• Tuesday, May 26: Property owners who are located in Manitoba, Saskatchewan, Ontario, and the Territories, with up to 10 tenants who are eligible for the program.
• Wednesday, May 27: All other property owners in Manitoba, Saskatchewan, Ontario, and the Territories.
• Thursday, May 28: All other property owners in Atlantic Canada, British Columbia, Alberta, and Quebec.
• Friday, May 29: All property owners across Canada.

CECRA can be applied for online here.