Prime Minister Justin Trudeau told Canadians that Ottawa has reached a deal to help aid small and medium-sized businesses during the coronavirus pandemic, which has left millions jobless.
Trudeau said that his deal with all provinces will decrease rent by 75 percent for April, May and June of 2020.
The move will help renters cover with rent by 50 percent from commercial rent reduction with property owners responsible for paying the remainder.
To be eligible, businesses and non-profits must be below a $50,000 threshold. Small businesses are also eligible.
Businesses are also eligible if they have break a 70 percent drop in revenue threshold.
"The program will provide forgivable loans to qualifying commercial property owners to cover 50 percent of three monthly rent payments that are payable by eligible small business tenants who are experiencing financial hardships during April, May, and June," according to a press release from the Prime Minister's Office Friday.
Powered by StructureCMS™ Comments
Join and support independent free thinkers!
We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Remind me next month
To find out what personal data we collect and how we use it, please visit our Privacy Policy
Comments