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Tag Archive CERS

Canada Emergency Rent Subsidy

What is the Canada Emergency Rent Subsidy (CERS)?

This financial support helps businesses, charities, and non-profits that have suffered a revenue drop due to COVID-19, by subsidizing a percentage of their expenses, on a sliding scale, up to a maximum of 65 per cent of eligible expenses until December 19th, 2020. It replaces the Canada Emergency Commercial Rent Assistance (CECRA) program. (The deadline is Oct 30, 2020)

The CERS program includes a subsidy of 25 per cent for organizations temporarily shut down by a mandatory public health order issued by a qualifying public health authority, in addition to the 65 per cent subsidy.

Based on the limited information we have, the Government of Canada has delivered over $1.8 billion in rent support, through the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This rent assistance has helped over 130,000 small businesses, supporting 1.18 million jobs in Canada.

The new Canada Emergency Rent Subsidy (CERS) picks up where the previous program ended, delivering direct, targeted, and accessible rent support to qualifying organizations without the need to work through their landlord.  It will also provide a subsidy for eligible fixed property expenses, including rent and interest on commercial mortgages.

Who is Eligible?

Full details of eligibility and how to apply will follow when they are announced. We will update this blog once further information and details become available.

refer link: https://www.canada.ca/en/department-finance/news/2020/10/government-announces-new-targeted-support-to-help-businesses-through-pandemic.html