Today’s vital updates:
- The Prime Minister, Justin Trudeau, today announced that the federal government has reached an agreement in principle with all provinces and territories to implement the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This program will lower rent by 75 per cent for small businesses that have been affected by COVID-19.
- The program will provide forgivable loans to qualifying commercial property owners to cover 50 per cent of three monthly rent payments that are payable by eligible small business tenants who are experiencing financial hardship during April, May, and June.
- The loans will be forgiven if the mortgaged property owner agrees to reduce the eligible small business tenants’ rent by at least 75 per cent for the three corresponding months under a rent forgiveness agreement, which will include a term not to evict the tenant while the agreement is in place. The small business tenant would cover the remainder, up to 25 per cent of the rent.
- Impacted small business tenants are businesses paying less than $50,000 per month in rent and who have temporarily ceased operations or have experienced at least a 70 per cent drop in pre-COVID-19 revenues. This support will also be available to non-profit and charitable organizations.
- The governments of Canada and Ontario have launched the Agri-Food Open for E-Business initiative. Applications are open online. This program will help food producers, farmers markets, retailers, garden centres, greenhouses, nurseries, and agricultural associations develop online business, providing consumers with greater access to a wide variety of food and agriculture products. Funding is being provided through the Canadian Agricultural Partnership (the Partnership). The targeted application intake features two funding streams:
- Bring Your Business Online. Eligible organizations and businesses can apply for a grant of up to $5,000 to establish an online e-business and marketing presence. Funding under this stream will be quick and responsive for those needing immediate solutions.
- Develop Online Business Opportunities. Eligible organizations, businesses and collaborations can apply for cost-share funding of up to $75,000 to implement high-impact projects.
- Premier Ford announced that a framework for re-opening the economy would be introduced early next week. The Premier speculated that a gradual re-opening might begin around Victoria Day, but stressed that re-opening would be gradual, and that the government would defer to public health authorities rather than committing to a firm schedule before data is available.
If you are showing symptoms, you must self-isolate for a minimum of 14 days. Call a public health authority immediately. Do not visit any healthcare provider in person before you have been directly advised to by public health authorities.
It is important that everyone practice social distancing to prevent the spread of COVID-19. Remain at home unless absolutely necessary. Minimize contact with other people. Wash hands frequently and thoroughly. Avoid touching the face. Maintain a 2-meter distance from others if you are required to be out in public. If you have recently traveled outside the country, you are legally required to self-isolate for 14 days.
Previous updates can be accessed at https://gncc.ca/covid-19/covid-19-gncc-news/.
Stay safe and be vigilant. The GNCC is here to support you. Contact us with any questions you have.