This blog is provided as an information service and summary of workplace legal issues. This information is not intended as legal advice.
On May 20, 2020, the federal government announced that applications for the Large Employer Emergency Financing Facility (“LEEFF”) are now open, and that applications for the Canada Emergency Commercial Rent Assistance (“CECRA”) will open on May 25, 2020 (for an overview of the LEEFF, please read our recent article, and for information on the CECRA please read our other recent article).
Therefore, large employers with an annual revenue of over $300 million may now apply for bridge loans to help them weather the COVID-19 pandemic at cdev.gc.ca.
Similarly, landlords of small employers will be able to apply for the CECRA at cmhc.ca beginning May 25, 2020. This website also clarifies which information will need to be submitted for such applications.
Accordingly, employers that have been impacted by COVID-19 and that pay $50,000 or less of commercial rent per month should contact their landlord to determine whether they are willing to apply for the CECRA and/or encourage them to do so.
