Commercial subsidy for businesses

Applications are now open for the Canada Emergency Rent subsidy, for businesses hard-pressed to pay the rent on their stores.

The program replaces an earlier federal support system which relied on commercial landlords to make the application.

The landlords would have been forced to swallow a 25 per cent loss in rent under that program.

The new program covers up to 65 per cent of commercial rent or mortgage interest, depending on how serious the downturn of business has been at a shop.

An extra 25 per cent subsidy is available to those businesses that have been hardest hit.

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