The Canada Emergency Rent Subsidy supplies commercial mortgage or rent subsidy of up to 65% of eligible expenses to qualifying businesses, non profits, and charities. The program will continue to keep the subsidy rates as is until December 19,2020. This program extends support directly to the tenants.
For those qualifying organizations that have been significantly effected by a mandatory public health order issued by a qualifying public health authority can receive an additional 25% of rent support through the use of the federal government’s Lockdown Support.
The combined effect of the rent subsidy and the Lockdown Support is that hard-hit businesses, non-profits and charities subject to a lockdown can receive rent support of up to 90%.
The rent subsidy and the Lockdown Support are available until June 2021.
If you would like assistance in assessing whether you qualify, Please feel free to book an appointment with our OFS advisors today to find out more.