Commercial Rent Assistance

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CANADA EMERGENCY COMMERCIAL RENT ASSISTANCE (CECRA) May 22, 2020

The application portal is opening Monday, May 25, 2020, at 8 AM.

Application days for Ontario landlords are:

• Tuesdays if have up to 10 tenants

• Wednesdays

• Fridays and the weekend

• MCAP and First Canadian Title (FCT) have been engaged by Canada Mortgage and Housing Corporation (CMHC) to perform applicant validation and funding processes

• Note that the landlord is the applicant and the landlord may decide not to participate

• Funds are expected to begin flowing June 1, 2020

• Deadline to apply is August 31, 2020

Revenue test to qualify a tenant:

• Average the revenue for April 2020, May 2020 and June 2020 (can be estimated) of the tenant

• Compare to either:

• The average of the revenue for April 2019, May 2019 and June 2019 of the tenant 

• The average of the revenue for January 2020 and February 2020

• Revenue for the April 2020 – June 2020 period must have declined by 70% or more when compared to the selected comparative period

Items that the landlord will need to be able to apply include (sample forms are available on the CMHC website below):

• Tenant attestation

• Property owner attestation

• Rent reduction agreement between landlord and tenant

• CECRA forgivable loan agreement between landlord and CMHC

• Address of the property

• Property type

• Property tax statement

• Rent roll and # of commercial units

• Banking information for the landlord

• Contact information

• Co-ownership information (if applicable)

• Co-ownership contact information (if applicable)

• Contact information for the tenant

• Tenant’s registered business name

• Tenant’s lease area

• Gross monthly rent for the period of April, May & June 2020

CMHC will forgive the program loan on December 31, 2020, provided that the property owner complies with all program terms and conditions.

You can view the details and sample forms on the Canada Mortgage and Housing Corporation (CMHC) website. Also, consult the CFIB website below for detailed FAQ by scrolling down to CECRA.

Canada Mortgage and Housing Corporation Website

https://www.cmhc-schl.gc.ca/en/finance-and-investing/covid19-cecra-small-business

CFIB Website

https://www.cfib-fcei.ca/en/small-business-resources-dealing-covid-19