Prime Minister Justin Trudeau addresses Canadians on the COVID-19 pandemic from Rideau Cottage in Ottawa on Wednesday, April 15, 2020. THE CANADIAN PRESS/Sean Kilpatrick

Trudeau unveils rental assistance for small businesses, loosens loan qualifications

Prime Minister says the program changes come in response to businesses saying not enough is being done

The federal government says it will be expanding the emergency loan program to allow for more businesses to be eligible, while also rolling out a new program to assist with rent and lease costs.

On Thursday (April 16), Prime Minister Justin Trudeau announced that businesses who spent more than $20,000 and $1.5 million on payroll in 2019 will be eligible to receive a loan through the Canada Emergency Business Account.

The CEBA, rolled out last month, gives eligible businesses a $40,000 loan with $10,000 in forgiveness – previously for business with payrolls between $50,000 and $1 million.

Trudeau said that more than 195,000 loans have been approved for small and medium sized businesses since its initial roll out.

Trudeau also announced a new Canada Emergency Commercial Rent Assistance program, which he said will help small businesses pay their rent for April, May and June.

ALSO READ: Trudeau announces pay top-up for essential workers, expands emergency benefit

Trudeau said more details will be on the way after the federal government convenes with individual provincial leaders.

On Wednesday, the Trudeau government announced an expansion to the Canada Emergency Response Benefit to include workers who have seen their hours cut due to COVID-19, instead of just those who have lost their jobs all together.

Trudeau will be hosting a weekly meeting with premiers from across the country, which will likely touch on care for seniors and the acquirement of personal protecting equipment.

While Thursday’s announcement from federal government promises more support, its main relief programs so far are a $40,000 interest-free loan and 75 per cent wage subsidies, though it has also called on landlords to be accommodating.

“We continue to call on landlords to exercise compassion and refrain from evictions during this difficult time for businesses and all Canadians,” said Ryan Nearing, press secretary to Small Business Minister Mary Ng.

He said earlier this week that both Ng and Finance Minister Bill Morneau are listening to small business owners and entrepreneurs and that they “continue to explore options to provide support in these unprecedented times.”

– with files from the Canadian Press


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Coronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A photo from 2017, of Nuchatlaht First Nation members outside court after filing a land title case in B.C. ( Submitted photo/Nuchatlaht First Nation).
Vancouver Island First Nation calls on B.C. to honour UNDRIP in historic title case

Nuchatlaht First Nation says Crown counsel continues to stall the case using the ‘distasteful’ argument that the Nation ‘abandoned’ their land

West Vancouver Island’s Ehattesaht First Nation continues lock down after 9 active cases were reported today after a visitor tested positive last week. (Ehattesaht First Nation/Facebook)
Ehattesaht First Nation’s COVID-19 nightmare: nine active cases, a storm and a power outage

The Vancouver Island First Nation in a lockdown since the first case was reported last week

North Island mayors say their voices should be heard by DFO before final decisions are made about fish farms. (Black Press file photo)
Mayors asking to be let in on fish farm consultations

DFO evaluating 18 Discovery Island fish farms and transitioning from open-net farms

“Scirocco” the unicorn, built collaboratively by CAP, Apex, Equinox, Gathering Place and Nexus program students under the guidance of artist Alex Witcombe of Drifted Creations, in its home in the middle of Robron Centre’s courtyard. SD72 photo
Building community at Campbell River’s Robron Centre one piece of driftwood at a time

Passing by the courtyard at Robron Centre one can’t help but stop… Continue reading

Windy conditions in Campbell River Nov. 27 made for some picturesque wave action at Ken Forde Park. Photo by Alistair Taylor – Campbell River Mirror
VIDEO: Campbell River region wakes up to windy day

The Campbell River area woke up to blustery conditions on Friday, Nov.… Continue reading

A woman wears a protective face covering to help prevent the spread of COVID-19 as she walks along the seawall in North Vancouver Wednesday, November 25, 2020.THE CANADIAN PRESS/Jonathan Hayward
911 new COVID-19 cases, 11 deaths as B.C. sees deadliest week since pandemic began

Hospitalizations reach more than 300 across the province

Black Press Media and BraveFace have come together to support children facing life-threatening conditions. Net proceeds from these washable, reusable, three-layer masks go to Make-A-Wish Foundation BC & Yukon.
Put on a BraveFace: Help make children’s wishes come true

Black Press Media, BraveFace host mask fundraiser for Make-A-Wish Foundation

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

The Ahousaht First Nation confirmed its first case of COVID-19 on Nov. 26, 2020. (Westerly file photo)
Ahousaht First Nation on lockdown over COVID-19

“Emotions are high. The anxiety is high. We want our community to pull through.”

Screenshot of Pastor James Butler giving a sermon at Free Grace Baptist Church in Chilliwack on Nov. 22, 2020. The church has decided to continue in-person services despite a public health order banning worship services that was issued on Nov. 19, 2020. (YouTube)
2 Lower Mainland churches continue in-person services despite public health orders

Pastors say faith groups are unfairly targeted and that charter rights protect their decisions

A big job: Former forests minister Doug Donaldson stands before a 500-year-old Douglas fir in Saanich to announce preservation of some of B.C.’s oldest trees, July 2019. (B.C. government)
B.C. returning to ‘stand-alone’ forests, rural development ministry

Horgan says Gordon Campbell’s super-ministry doesn’t work

Freighter anchored off Kin Beach in Chemainus. (Photo by Don Bodger)
MP to host expert panel for virtual town hall on freighter anchorages issue

Residents can participate through MacGregor’s website or Facebook page Dec. 3

Most Read