Updated May 25, 2020
Canada Emergency Commercial Rent Assistance (CECRA) – Apply Now (added May 25, 2020)
CMHC are taking a staggered approach for CECRA applications – property owners in BC with up to 10 tenants can Apply Now.
Canada Emergency Commercial Rent Assistance (CECRA) – New Web Page
The Canada Mortgage and Housing Corporation (CMHC) is administering the CECRA program on behalf of the Government of Canada and the provinces and territories. CMHC now has a online web page; however, applications are still unavailable.
Click here for more program information
The federal government has reached an agreement in principle with all provinces and territories to implement the
The government is also providing further details on the program:
- The program will provide forgivable loans to qualifying commercial property owners to cover 50 per cent of three monthly rent payments that are payable by eligible small business tenants who are experiencing financial hardship during April, May, and June.
- The loans will be forgiven if the mortgaged property owner agrees to reduce the eligible small business tenants’ rent by at least 75 per cent for the three corresponding months under a rent forgiveness agreement, which will include a term not to evict the tenant while the agreement is in place. The small business tenant would cover the remainder, up to 25 per cent of the rent.
- Impacted small business tenants are businesses paying less than $50,000 per month in rent and who have temporarily ceased operations or have experienced at least a 70 per cent drop in pre-COVID-19 revenues. This support will also be available to non-profit and charitable organizations.