A lease sign hangs in the window as a cyclist walks past a commercial store Monday August 31, 2020 in Ottawa. The federal government is expanding the life of commercial rent-relief program one last time. THE CANADIAN PRESS/Adrian Wyld

Liberals extend commercial rent-relief program for last time

The rent-relief program provides forgivable loans that cover half of rent for eligible small businesses

The federal government is extending its commercial rent-relief program one last time.

The Liberals say the program that aims to help small businesses with their rent or lease costs will be extended for this month, unveiling the details one week after rent was due.

In a release, the government says the one-month lifeline is a “final extension” for the program and that officials are looking at other options to help small businesses.

The rent-relief program provides forgivable loans that cover half of rent for eligible small businesses, and also requires landlords to waive a further one-quarter of what they’d otherwise be owed.

Property owners have to apply for the help, but take-up has lagged expectations and spending is projected to fall far short of the nearly $3 billion the Liberals have budgeted.

The government says that as of the start of this week, the program had provided over $1.32 billion in aid to more than 106,000 small-business tenants.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

Coronavirus

Just Posted

Vancouver Island dance classes billed as female empowerment tool

New Comox Valley business focuses on ‘promoting positive body image’

Restored boat on display in Sointula, honouring the past

A 34-foot gillnet fishing boat built on Malcolm Island in 1948 is the newest museum addition

Langford racing enthusiast back in driver’s seat of life after surviving aggressive cancer

70-year-old David Smith finishes mid-pack in Canada 200 race at Western Speedway

Duncan family overwhelmed with 14 puppies

Chocolate lab litter may be one of the biggest ever

B.C. records 98 more COVID-19 cases, most in Lower Mainland

One new senior home outbreak, Surrey Memorial outbreak over

Police seek ‘high-risk sex offender’ last seen in Victoria

Scott Jones is wanted on a Canada-wide warrant for being ‘unlawfully at large’

Ride-hailing service nearly ready to start up in Nanaimo

Lucky to Go planning to launch Oct. 1

Three Vancouver Island photographers place in BC SPCA 2020 Wild-in-Focus photography contest

Out of 956+ submissions province wide, both winners place in separate categories

Victoria gets new collegiate baseball team, training facility

Golden Tide coach wants to see as many local kids play for the HarbourCats as possible

Hospice worker and patient butt heads in upcoming Nanaimo theatre production

Yellow Point Drama Group presents ‘Grace and Glorie’ at Cedar Community Hall

97 distressed horses, cats and dogs seized from farm in Princeton

RCMP assisted as BC SPCA executed search warrant

Most Read