In layman’s term, canada emergency rent subsidy is a very new program. The main goal is to provide the needed relief to all those businesses, especially the smaller ones, which got affected by this global COVID pandemic. The services take place right in form of mortgage and rent support and this program will offer such services till June 2021. So, if the businesses are finding it hard to pay for the amount associated with commercial rent, then this program will take care of that scenario. It is targeted to replace Canada Emergency Commercial Rent Assistance as a more improved version of this program.
For the qualification:
Only qualified businesses are able to take help of this program, when it gets live. Even to this date, this program is under process. For getting qualified for this subsidy, there are some criteria that the businesses have to match up with. Right now, this criterion panel is not available but it will be made available soon by the Canadian government. So, just wait for it, fulfill the required needs and you are off to a great start! You will get the right kind of monetary help from authorized sources when the plan gets live and don’t have to worry about the rent any further.
How it will help businesses:
Due to COVID pandemic, lots of businesses have to close down their doors forever, because of the loss they went into. This is a simple and common scenario among almost all small businesses. They find it hard to pay for their commercial rent as well. That’s when this program comes to the rescue by making the payment for those businesses till a particular date. Just try to focus on all the possible options and then get towards this plan right now.
