On Friday, Prime Minster Justin Trudeau announced details of the federal rent assistance program for small businesses that was first unveiled last week.
In a statement, the federal government said it has reached an agreement in principle with all provinces and territories to implement the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses impacted by COVID-19. The program will lower rent by 75 per cent for affected small businesses.
The government said:
The program will provide forgivable loans to qualifying commercial property owners to cover 50 per cent of three,