The federal government in Ottawa will extend a loan program for commercial landlords as small businesses struggle to reopen amid the Covid-19 pandemic.
The program, called the "Canada Emergency Commercial Rent Assistance Program," will be extended for a third time as the government works through options for reforming its rent-relief strategy.
The extension of the existing program is meant to be an interim measure and is scheduled to last until October 1. Ontario Premier Doug Ford told reporters that his government is working with the federal government to move the rent-relief extension forward.
In April, Prime Minister Justin Trudeau broadened his fiscal plan to include commercial landlords and lend more money to small businesses. The relief program provided loans for landlords who lowered or waived rent payments from their business tenants. The program was originally meant to end in June but continues to be extended by Ottawa.
