Connect with us

Business

New Business Rent Relief Program to Close Pledged Fund Gap, Minister Says – National

Avatar

Published

on


As the number of cases increases across Canada, many small businesses are seeing the effects of a decrease in customer numbers and some are once again being asked to go out of business to help fend off the second wave of the novel coronavirus in the country.

To help offset this, the federal government last week unveiled several new and revamped COVID-19 relief programs, one of which will filter $ 2.2 billion from commercial tenants, along with a program extended wage subsidy that is expected to fund the bill up to 65% of eligible costs for business owners through December.

They also included a boost to the existing Emergency Business Account in Canada (CEBA), which will offer interest-free loans of up to $ 20,000, in addition to the original $ 40,000 ONION ready.

Read more:

Revamped Coronavirus Business Relief Programs Unveiled As Second Wave Rises

The story continues under the ad

The company supports many loopholes in previous federal funding initiatives, making them more accessible.

The Rent Relief Program replaces the Canada Commercial Rent Emergency Assistance Program (CECRA). By the time this program ended on September 30, the federal government had promised relief, but there was still no final plan for business owners for October rent.

The original version of CECRA was also criticized for being too restrictive, and tenants could only qualify if their landlords accepted loans from the program.

But when asked why the federal government had not unveiled the new plan earlier, Mary Ng, Canada’s Minister for Small Business, Export Promotion and International Trade, pointed out that the new rent subsidy would be “Backdated to September” and a series of programs to help businesses.


Click to play video 'Coronavirus: Freeland says new measures' target 'certain businesses'



Coronavirus: Freeland says new measures are ‘targeted’ at certain businesses


Coronavirus: Freeland says new measures are ‘targeted’ at certain businesses

“So their eligibility will absolutely give them that coverage for September. This is also the reason why we introduced additional liquidity through CEBA, ”she said during an episode of The West Block of Global News.

The story continues under the ad

So far, $ 30.75 billion in CEBA loans had been disbursed, and the federal government said 769,979 requests were approved.

Ng said the revamped rent relief program was aimed at preventing further permanent shutdowns for businesses suffering lost income during the pandemic.

Read more:

Ottawa still shows promise, but fails to implement new commercial rent relief program

“We know businesses are losing income, have suffered loss of income, which is why we introduced the rent subsidy and … an additional 25% to help cover this fixed cost if the business were to experience a shutdown. following a health order, ”she says.

Dan Kelly, president and CEO of the Canadian Federation of Independent Business, said the first wave of COVID-19 is expected to result in “160,000 permanent business failures directly attributable to the pandemic.”

It was likely that so many embarked places across the country would be visible before the end, he said.

– With files from Mercedes Stephenson from Global News

© 2020 Global News, a division of Corus Entertainment Inc.



What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]