The Canada Emergency Commercial Rent Assistance for small businesses will provide forgivable loans to qualifying commercial property owners to cover 50% of three months rent payments payable by eligible small business tenants 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% for the three corresponding months under a rent forgiveness agreement, which will include a pledge not to evict the tenant while the agreement is in place.
The small business tenant would cover the remainder, up to 25% of the rent.
If you have questions about the debt you already owe, call Goldhar & Associates Ltd for a free, no-obligation, consultation, toll-free at 1.855.282.0343.
Read the full article here: https://bit.ly/RentRelief2020