Good news for small and medium sized businesses across Canada that are struggling to pay rent during the COVID-19 pandemic.
Prime Minister Justin Trudeau says the Canada Emergency Commercial Rent Assistance program will cover 75% of the cost of rent for the months of April, May and June. Trudeau says the government will cover half the cost with property owners paying the rest.
Trudeau adds this will be for businesses and non-profit organizations who pay less than $50,000 per month in rent.
The Prime Minister says more details for larger businesses will be announced in the coming days.
