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Rent Support Coming for Small Businesses and Charities

Friday, 24 April 2020 12:08

The Federal Government is offering a rent reduction of up to 75% for small businesses and charities impacted by COVID-19.

CANADA - The Prime Minister offered more support to small businesses and charities today.

Justin Trudeau says the Government has reached an agreement all provinces and territories to implement a rent assistance program. This means rent will be lowered by 75 percent for small businesses impacted by COVID-19 for April, May and June.

"The Government will cover 50 percent of that reduction, with the property owner covering the rest. If you are a small business that has been strongly affected by COVID-19, you will be eligible to receive this support. It will also be there for non profits and charitable organizations that are struggling right now. We will also have more to say in the coming days for rent supports for larger businesses." 

The Provinces and territories actually have jurisdiction over rent, which is why an agreement was needed. Trudeau says there was unanimous support across the board for this aid plan.

The news has to be a huge relief for several business owners who are wondering how they are going to pay their rent on May 1st. 
 

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