The application process for a long-awaited, new, federally funded, commercial rent-relief program kicks off today.
The initiative, dubbed the Canada Emergency Rent Subsidy, aims to help businesses that are struggling to pay their bills during the escalating COVID-19 pandemic.
It will replace an earlier rent-support program for businesses introduced in the spring that saw little pickup because it relied on landlords to apply for help.
The new program will cover up to 65 per cent of rent or commercial mortgage interest on a sliding scale based on revenue declines