Prime Minister Justin Trudeau speak to the media about the COVID-19 virus outside Rideau Cottage in Ottawa, Friday, Nov. 20, 2020. THE CANADIAN PRESS/Adrian Wyld

Prime Minister Justin Trudeau speak to the media about the COVID-19 virus outside Rideau Cottage in Ottawa, Friday, Nov. 20, 2020. THE CANADIAN PRESS/Adrian Wyld

Long-awaited federal rent subsidy program for businesses hurt by COVID-19 opens today

The new program will cover up to 65 per cent of rent or commercial mortgage interest

Businesses struggling to pay the bills because of the COVID-19 pandemic will be able to start applying today for a long-awaited new commercial rent-relief program offered by the federal government.

The new Canada Emergency Rent Subsidy replaces an earlier rent-support program for businesses introduced in the spring that saw little pickup because it relied on landlords to apply for help.

The new program will cover up to 65 per cent of rent or commercial mortgage interest on a sliding scale based on revenue declines, with an extra 25 per cent available to the hardest-hit firms.

Federal cabinet ministers will highlight the program during a news conference this morning in which they will also open two initiatives designed to help businesses owned by Black Canadians.

The Canadian Federation of Independent Business, which represents thousands of small companies across the country, is welcoming the new rent program as long overdue for firms hard hit by COVID-19.

However, it is criticizing the government for not opening it to businesses that would have qualified for the previous rent-relief program, but could not access federal funds because their landlords chose not to apply.

ALSO READ: Feds pledge customer refunds before ‘we spend one penny’ on aid package for airlines

The Canadian Press


Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

Coronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Undated Google photo of Safeway (20871 Fraser Hwy.).
Safeway, FreshCo, Shoppers and three Langley schools record COVID-19 cases

Two COVID-positive staff reported at same Safeway within days

Google Maps screenshot taken at 7:30 a.m.
TRAFFIC: Westbound Highway 1 crash blocking left lane in Langley

Incident at 264th Street slowing morning commuters

Aldergrove legion branch #265. (Aldergrove Star files)
Final phase of $14 million federal support fund rolls out to legion branches

Branches still reeling from pandemic receive remaining $3.8 million in emergency funds

Italian flat leaf parsley can be used in pesto, replacing fresh basil. (Heather Colpitts/Black Press Media)
ON COOKING: Chef Dez does parsley pesto

Pesto traditionally has fresh basil but it can also be made with another fresh herb

A bullet hole is seen in the windshield of an RCMP vehicle approximately 4 km from Vancouver International Airport after a one person was killed during a shooting outside the international departures terminal at the airport, in Richmond, B.C., Sunday, May 9, 2021. THE CANADIAN PRESS/Darryl Dyck
Homicide team IDs man in fatal YVR shooting as police grapple with spate of gang violence

Man, 20, charged in separate fatal shooting Burnaby over the weekend

The majority of city council votes in favour of this design for a new Salmon Arm flag on Monday, May 10, 2021. (City of Salmon Arm image)
Majority of council salutes new flag for Salmon Arm

Two councillors raise concerns about logo being too corporate for a flag

(Pixabay)
B.C. doctors could face consequences for spreading COVID misinformation: college

College says doctors have a higher level of responsibility to not spread incorrect information

Trina Hunt’s remains were found in the Hope area on March 29. Her family is asking the public to think back to the weekend prior to when she went missing. (Photo courtesy of IHIT.)
Trina Hunt’s family appeals to killer to step forward after remains found in Hope

Cousins also ask Hope residents to think back to weekend Port Moody woman was in the area

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Prime Minister Justin Trudeau receives his COVID-19 AstraZeneca vaccination in Ottawa, Friday, April 23, 2021. THE CANADIAN PRESS/Adrian Wyld
75% of Canadians need 1st vaccine dose to have more normal summer: Trudeau

The country is on track to hit a major milestone on the road to COVID-19 herd immunity Tuesday, with 40% vaccinated with a 1st dose

A black bear, dubbed Huckleberry by Deep Cove, B.C., residents died on July 31, 2020, after becoming conditioned to food and humans. (North Shore Black Bear Society photo)
Fewer dead bears, more fines: Advocates call for B.C. conservation officer reform

B.C. Bear Alliance wants to see body cameras on conservation officers after more than 600 black bears were killed this past year

Minister of Health Patty Hajdu responds to a question during question period in the House of Commons on Parliament Hill in Ottawa. THE CANADIAN PRESS/Sean Kilpatrick
Drug users were shut out of Vancouver’s decriminalization proposal, critics say, demanding redo

The coalition is asking the city to raise the proposed drug thresholds from a 3-day supply

David and Julie Kaplan with their children Estelle and Justin. (Special to The News)
COVID-19 border closure stops B.C. family’s cross-country move

Maple Ridge couple, two kids, turned away at New Brunswick border

Most Read