Canada Emergency Commercial Rent Assistance Now Accepting Applications

Canada Emergency Commercial Rent Assistance (CECRA) for small businesses provides relief for small businesses experiencing financial hardship due to COVID-19. It offers unsecured, forgivable loans to eligible commercial property owners to reduce the rent owed by their impacted small business tenants and to meet operating expenses on commercial properties.

With the CECRA, property owners will reduce rent by at least 75% for the months of April and May (retroactive), and June, for their small business tenants. CECRA will cover 50% of the rent, with the tenant paying up to 25% and the property owner forgiving at least 25%.

“Applying for CECRA makes financial sense for property owners, as their success depends on the success of their tenants. If a tenant declares bankruptcy and is evicted, the property owner receives zero rental income and faces additional costs while they search for new tenants” said MP Ruby Sahota in her post on social media.

CMHC has engaged MCAP and First Canadian Title (FCT) to deliver CECRA for small businesses. Applicants may be contacted by either MCAP or FCT throughout the application validation and funding processes. Representatives will be available to answer questions specific to the application.