Applications are now being accepted for the Canada Emergency Commercial Rent Assistance program.
The program, announced last week, allows landlords to submit applications to have 50 per cent of their rent be covered in forgivable loans.
The federal government is asking landlords to absorb 25 per cent of the cost and for tenants to pay 25 per cent.
Both the tenant and the landlord have to meet specific requirements to qualify for the assistance.
“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,” said Prime Minister Justin Trudeau.
“Small businesses are the backbone of this country. We need to be there to support them when it matters most.”
As of Monday, applications will be accepted through the Canada Mortgage and Housing Corporation (CMHC) website.
