New Canada Emergency Commercial Rent Assistance | Canada Emergency Business Account Expanded

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Canada Emergency Commercial Rent Assistance

On April 16th, Prime Minister Justin Trudeau announced support for to help small businesses with their rent for the months of April, May and June.

The program is being worked out with the provinces and more details will be available shortly.

“Businesses and Commercial property owners are also facing specific challenges because of COVID-19 so we plan on introducing the Canada Emergency Commercial Rent Assistance. This program will provide support to help small businesses with their rent for the months of April, May and June. To implement this program we have to work with the provinces and territories as they govern rental relationships and we hope to have more details very soon” – PM Justin Trudeau

Canada Emergency Business Account

The eligible amounts are being expanded to include businesses with 2019 total payroll between $20,000 – $1.5 million.

There are restrictions on the funds can be used. From their website https://ceba-cuec.ca/:

“The funds from this loan shall only be used by the Borrower to pay non-deferrable operating expenses of the Borrower including, without limitation, payroll, rent, utilities, insurance, property tax and regularly scheduled debt service, and may not be used to fund any payments or expenses such as prepayment/refinancing of existing indebtedness, payments of dividends, distributions and increases in management compensation.”

Click to Get Full Details

Expanded eligibility for Canada Emergency Response Benefit (CERB) & Boosted wages for Essential Workers

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From his speech this morning (April 15th), Prime Minister Justin Trudeau announced:

“Today, we’re announcing more help for more Canadians. This includes topping up the pay of essential workers. At the same time, we’ll also be expanding the Canada Emergency Response Benefit to reach people who are earning some income as well as seasonal workers who are facing no jobs and for those who have run out of EI recently. Expanding the CERB to include people who earn up to $1,000 per month. Maybe you’re a volunteer firefighter, or a contractor who can pickup some shifts, or you have a part-time job in a grocery store.”

Eligibility for CERB

On eligibility for CERB, the Prime Minister stated:

“If you earn $1,000 or less a month, you’ll now be able to apply for CERB.

If you were expecting a seasonal job that isn’t coming because of COVID-19, you’ll now be able to apply.

If you’ve run out of EI since January 1st, you can now apply for CERB as well

And for others who still need help, including post secondary students and businesses worried about commercial rent, we’ll have more to say to you very soon.”

Wage Boost for Essential Workers

On topping up wages for Essential Workers, PM Justin Trudeau said:

“Our government will work with the provinces and territories to boost wages for essential workers who are making under $2,500 a month, like those in our long-term care facilities”

The government website is being updated with the new qualifications, for full details and to apply click below:

Apply for CERB