Businesses, nonprofits and charities hit financially by the pandemic will be able to apply for the federal government's new rent subsidy program starting Monday. The Canada Emergency Rent Subsidy, CERS, which replaces the federal government's Canada Emergency Commercial Rent Assistance (CECRA) program, will provide up to 90 per cent rent support for qualifying businesses. The new CERS program allows tenants to apply directly to the federal government. Under the new program, organizations that have seen a decline of 70 per cent or more in their revenues because of the pandemic are eligible for a 65 per cent rent subsidy. An organization that lost 50 per cent of revenues, for example, would get a 40 per cent subsidy, while one that saw revenues drop 25 per cent would get a 20 per cent subsidy.

Source: CBC News November 20, 2020 22:38 UTC