CERB Replaced by New EI, CRB, CRSB, and CRCB programs – latest details (Canada Covid Relief)

A person on a calculator to denote someone calculating their budgeting based on CERB ends and being replaced by new EI, CRB, CRSB and CRCB programs.

CERB will be replaced by a new EI program and three transitional programs CRB, CRSB, and CRCB. I wrote a previous article regarding these programs, which I’ve linked to at the bottom of the page. However, there are some slight changes to the programs since the government’s throne speech on September 23, 2020. Let’s highlight some of these details below.

CERB Replaced by New Employment Insurance Program

If you were on the Canada Emergency Response Program (CERB) when it ended September 26, 2020, you will either be transitioned to or have to apply for EI benefits if you qualify for it. For example, if you applied for CERB through Service Canada, you will automatically be set up for EI benefits if you qualify. If you applied for CERB through CRA (Canada Revenue Agency), then you will have to apply for EI benefits after September 26, 2020.

The main criteria for EI is that someone has worked at least 120 insurable hours of employment in last 52 weeks. This criteria is for both regular EI benefits and Special benefits. The rate one will receive has been increased to at least $500 per week and $300 per week for extended parental benefits for at least 26 weeks. But what options does someone have if they do not qualify for EI benefits?

CERB Replaced by New Transitional Benefits – CRB, CRSB, CRCB

Last Thursday the government tabled these three new recovery benefits in Parliament which will be debated today for ones who do not qualify for EI. These benefits are temporary as you can only apply for them up to September 25, 2021. Here’s a brief description of each below.

Canada Recovery Benefit (CRB) – The program is designed for those who are self employed and are not eligible for EI and still need support. The rate is $500 per week for 26 weeks. It is provided to workers who have not returned to work due to COVID-19 or seen their income drop by at least 50 percent. Those who apply for this program must be looking for work and accept work when it is reasonable to do so.

Canada Recovery Sickness Benefit (CRSB) – The program provides $500 per week for up to two weeks for workers who are sick or who must self-isolate due to COVID-19. The government has indicated that the goal of this program is to provide paid sick leave to all Canadians. Details such as eligibility requirements have not been given as of yet.

Canada Recovery Caregiver Benefit (CRCB) – The program provides $500 per week for up to 26 weeks for those who are unable to work because they need to care for a child under the age of 12 or family member because schools and daycares are closed. The benefit is also available for those caring for a child or family member who is sick and/or required to quarantine.

CERB Replaced by New Benefits, When Do They Start? Conclusion

Regarding the new EI program, it starts this week as some people are already transitioned into it while others can apply right now for EI benefits. However, regarding the three new temporary recovery programs, as mentioned above – the bill (C-2) for these programs will be debated today (September 28, 2020) in Parliament. Once the debates have ended, there will be a vote and if it passes, then it will be implemented. How fast it can happen is anyone’s guess but could happen fairly rapidly. So it would be good to check for updates daily. Also, because it is being debated there could possibly be some more adjustments, so look out for that also. Hopefully, things will move fast and these programs can be accessed because many still need help during these unstable times. Stay safe everyone.

You Might Also Like: When Will CERB Finally End? New End Date and Programs

New Loans For Black Business Owners – Economic Relief From COVID-19

An open sign to denote the benefits of new loan program for black business owners.

New loans for black business owners was announced by Prime Minister Trudeau yesterday. The purpose of the loan program is to help black business owners and entrepreneurs by providing economic relief during COVID-19. The goal is to help these ones recovery and grow their businesses, and provide an economic boost. The government also feels that this is way to help curve systemic racism. So what are some of the details of the new program?

New Loans for Black Businesser Owners – Highlights

The $221-million program will receive about $93 million from the federal government over the next four years. It will receive $128 million from eight financial institutions. Here ‘s the actual breakdown from the Prime Minister’s website below:

The program will include:

-Up to $53 million to develop and implement a new National Ecosystem Fund. This will support Black led business organizations across the country. It will help Black business owners and entrepreneurs access funding and capital, mentorship, financial planning services, and business training.

-Up to $33.3 million in support through the new Black Entrepreneurship Loan Fund that will provide loans of between $25,000 and $250,000 for Black business owners and entrepreneurs. The Government of Canada is also partnering with financial institutions, including RBC, BMO Financial Group, Scotiabank, CIBC, National Bank, TD, Vancity, and Alterna Savings, to make up to $128 million available in additional lending support.

-Up to $6.5 million to create and sustain a new Black Entrepreneurship Knowledge Hub. This Hub will collect data on the state of Black entrepreneurship in Canada and help identify Black entrepreneurs’ barriers to success as well as opportunities for growth. The Hub will be run by Black-led community and business organizations, in partnership with educational institutions.

When Will This Program be Implemented?

The Prime Minister did not announce when the new loan program for black business owners will be implemented. Also, there were no details about how one would specifically apply. And there were no details on the criteria needed to qualify for the loan. And there were no details about the interest rate, repayment etc. So we will have to wait for further announcements to get more clarification. But don’t worry, as soon as we have more details to share – share it we will!

In conclusion, for many black business owners struggling from the impact of the coronavirus, it is a nice announcement to think of additional funding options. However, they will need more details and action to benefit from this program. So we’ll wait and see for now, and update you as soon as we have more information. Stay safe everyone.

When Will CERB Finally End? New End Date and Programs

A picture to denote someone getting ready to crunch their finances based on the question will cerb finally end and the programs to come afterwards.

When will CERB finally end? That has been the million dollar question for the summer of 2020. However, now it seems the government has given a definite answer after extending the program one more time and has laid out plans for other programs to start right afterwards. Let’s look at these details.

When Will CERB Finally End? – CERB Extension and End Date

CERB or the Canada Emergency Response Benefit has been extended 4 more weeks for a total of 28 weeks. The rate is still $500.00 per week. However, the end date of CERB has changed. It is now ending as of September 26, 2020. So the window to collect a potential of 28 weeks goes from March 15, 2020 to September 26, 2020. What happens next?

When Will CERB Finally End? – New Programs Announced

The government announced that as of September 27, 2020, there will be four new programs that Canadians can apply for to help them through the financial crisis caused by COVID-19. They are a new EI program, and three new temporary benefits programs. Let’s take a look at each one these.

Restructured Employment Insurance Program

The government announced that people who are currently are on CERB and who qualify for EI benefits will be transitioned into the Employment Insurance program. This means that if you applied for CERB through Service Canada, you will automatically be set up for EI benefits. If you applied for CERB through CRA, then you would have to apply for EI. So what are the details of the EI program?

Here are some of the details from the government of Canada’s website below:

“EI will now be available to more Canadians, including those who would not have qualified for EI in the past, adding more than 400,000 people into the program.Those receiving EI will be eligible for a taxable benefit rate of at least $400 per week, or $240 per week for extended parental benefits, and regular benefits will be accessible for a minimum duration of 26 weeks. “

How Many Insurable Hours Do I Need to Qualify for EI Benefits?

The Government has lowered the required insurable hours of work to qualify for EI benefits to 120 hours in the last 52 weeks or since your last Employment claim. How can they do this?

First as indicated from their website, they are going to give a person a credit of 300 insurable hours if they are applying for Regular Employment insurance benefits. If someone is applying for special benefits such as sickness or maternity benefits they will receive a credit of 480 insurable hours. So the government is giving a credit to help make up the difference so you can qualify for EI.

Second, the government has established a minimum unemployment rate for the EI program of 13.1% across Canada. What does this mean? It basically means that a person cannot collect anything less then 26 weeks of benefits. Normally, the unemployment rate used was based in the city or area you lived and the lower the rate of unemployment, the lower the minimum weeks that someone could collect.

If I Do Not Qualify for EI Benefits, Are There Other Options?

As previously indicated, if someone does not qualify for Employment Insurance benefits, the government announced three addition programs. Here they are one by one below.

Canada Recovery Benefit – This program is for self employed workers who do not qualify for employment insurance benefits and need income support and who are looking and are available for work. They can be provided with $400.00 per week up to 26 weeks.

Canada Recovery Sickness Benefit – The government will provide up to $500.00 per week for up to two weeks for someone who has to self isolate for reasons related to COVID-19.

Canada Recovery Caregiving Benefit – This program will provide up to $500.00 per week for up to 26 weeks per household to eligible persons who have to take care of a child, family member with a disability or a dependent who cannot attend school or be at a care facility or get other care due to COVID-19.

All of these new programs start as of September 27, 2020 and all are temporary with a duration of one year. For more details on the specific eligibility requirements, please look at the government of Canada’s website.

Conclusion

CERB will finally end on September 27, 2020. At this point the government has revamped the Employment Insurance program and set up three temporary programs to help Canadians transition out of the financial crisis caused by the pandemic. The goal is to get as many Canadians back to work as possible in this time as the financial costs of having so many Canadians on CERB was immense. Will it work? Only time will tell. However, no matter how good the plans may be, everything will be dependent on how COVID-19 affects life and the economy in the fall and winter. And that is the ultimate wild card. Please stay safe.

One Time Disability Payment Canada for Covid-19

A disability sign to denote that the one time disability payment is for ones with disabilities during covid-19

Last week parliament approved the one time disability payment to Canadians with disabilities. It was part of Bill C-20 that also had the changes to the Canada Emergency Wage Subsidy program. The Canadian government says that about 1.7 million with disabilities should benefit from this program. So what are some details of this program? And how do Canadians who have disabilities apply to receive this one time payment?

One Time Disability Payment, How much?

The government of Canada’s website says that about 1.7 million Canadians can receive a one time payment of up to $600.00. Of note, this one time payment is non taxable and does not have to be reported anywhere. In a nutshell it is free money to spend as the recipients see fit. The government will move forward to start paying out on this once the bill receives Royal Assent.

How to Become Eligible to Receive the Payment?

The government of Canada’s website outlines three ways a person with disabilities can become eligible for the payment. Canadians with disabilities will have to fit in one of the three criteria the government has laid out. Here they are below:

  • They are holders of a valid Disability Tax Credit certificate (eligible persons not yet in possession of such a certificate would be able to apply for one up to 60 days after Royal Assent to be considered for the one-time payment).
  • Are currently receiving Canada Pension Plan disability benefits or Quebec Pension Plan disability benefits.
  • Or are in receipt of disability supports provided by Veterans Affairs Canada.

Conclusion

The government is hoping to help one of the most vulnerable groups to cope with the additional stresses due to COVID-19 with a non-taxable one time payment. This can be spent on whatever they need, and does not need to be tracked. During these uncertain financial times, any help that can be rendered is appreciated. Will it be enough to help Canadians during COVID-19? Only time will tell.

Canada Emergency Wage Subsidy Extension

A picture to denote business owner calculating the canada wage subsidy program for their employees

The Canada Emergency Wage Subsidy Extension was just announced today by the prime minister this morning. The news is definitely a relief for the many businesses struggling to stay afloat during this pandemic. How long is the extension for and when does the program end? See below:

What is the Canada Emergency Wage subsidy? Quick Review

Here’s a quick summary from a CBC article today: “The program covers 75 per cent of wages, up to a weekly maximum of $847, for workers at eligible companies and non-profits affected by the economic slowdown caused by the COVID-19 pandemic.”

Originally the program went from March 15, 2020 to August 29, 2020. This meant that an employer could collect a 75% wage subsidy on an employee’s wages up to 24 weeks as per the government’s website. For more details on the Canada Emergency Wage Subsidy Program, please look at my original article regarding this.

Canada Emergency Wage Subsidy Extension

As mentioned earlier, the prime minister announced that the government will be extending the program until December 2020. The exact weeks extension and when you can apply for the extension was not announced as of yet. Once further details are given, we will update these details.

Conclusion

As mentioned above, many small businesses will welcome the extension of the program as the economy recovery from the pandemic is slow. Also, with uncertainties surrounding covid-19 such as a potential second wave, many businesses are worried about their future. And any help during this unstable time is good help for sure. Stay safe!

Canada Student Service Grant, What is it? How to Apply?

A classroom at a college to denote that Canada student Service grant is for students who cannot find a job.

The Canada Student Service Grant program (CSSG) was announced a few days ago to help students who could not find a summer job. Here are some of the programs details below:

  • Post-secondary students will be eligible to earn up to $5,000 this summer through a new volunteer service grant.
  • The grant is available for a range of volunteer work, including mask making, tutoring, researching animal behaviour and designing exercise programs for seniors.
  • The grant will be worth between $1,000 and $5,000, depending on the number of hours completed. For every 100 hours worked, a student is eligible for $1,000, which means someone must volunteer 500 hours to receive the full grant. (This works out to receiving $10/hour of volunteer work this summer.)

Finally, the program runs until October 31, 2020.

Canada Student Service Grant, Who is Eligible?

Here are some of the qualifications needed, as outlined from a recent article:

  • Students and recent graduates between the ages of 15 years old and 30 years old can apply for the program.
  • To qualify, an individual must be enrolled part-time or full-time in a recognized post-secondary education program in the spring, summer or fall of 2020, or must have completed post-secondary studies in December 2019 or later.

Canada Student Services Grant, How to Apply?

To apply for this program, the government has launched an online platform for the program called “I Want To Help.” Once you go to this website, you can register as a volunteer. Also, you can search for organizations who are looking for volunteers in your area. This is what the website says below:

There are plenty of service opportunities available for students looking to get involved in their community to support Canada’s response to COVID-19. By volunteering with a local organization this summer, they can gain valuable experience and obtain the Canada Student Service Grant in recognition for their service. New opportunities will be added regularly.”

Conclusion

The Canada Student Services Grant is more opportunity to help students during this difficult time. However, the program is limited as only 10,000 new jobs will be created. Also, volunteer prospects could be limited due to lack of variety of volunteer opportunities. Hopefully, this will increase in time. However, this program gives students another option of economic help. And having options is a good thing, especially during these stressful times.

You might also like to read about the Canada Emergency Student Benefit Program.

CERB Extension Details, How long? When Does it End?

A sign saying emergency to denote CERB extension details

The CERB (Canada Emergency Response Benefit) extension has been announced by the Canadian Government after much speculation. Many were wondering when and if this would happen due to the fact that a number Canadians who are on CERB would see their benefits end as early as the first week of July. And many people still don’t have jobs to go back to and the economic situation overall still feels pretty shaky. Here are the CERB extension details that were announced below:

CERB Extension Details

The CERB program has been extended an extra 8 weeks. So the maximum number of weeks a person can collect is now 24 weeks from 16 weeks. The amount remains the same, which means you would still collect $2000.00 for each 4 week period.

The criteria for collecting the additional 8 weeks are listed below from the government’s website:

CERB extended from 16 weeks to 24 weeks for workers who:

  • stopped working due to COVID-19 or
  • are eligible for Employment Insurance regular or sickness benefits or
  • have exhausted their Employment Insurance regular benefits or Employment Insurance fishing benefits between December 29, 2019 and October 3, 2020.

Only apply for the CERB through either Service Canada or the Canada Revenue Agency (CRA) – not both.

CERB Extension Details – End Date of Program

Even though the number of weeks has been been extended, the program still ends on October 3, 2020. This means you would have to collect all 24 weeks before this date to get the maximum CERB benefit amount.

Conclusion

The announcement of the CERB extension is a relief for many Canadians as even though parts of the country are starting to open up, many Canadians are still in a perilous financial situation. Regarding what will happen afterwards, no one knows as the situation is fluid and still unpredictable. The reality is that a lot depends upon how Covid-19 spreads in the next while or if there is a second wave of the pandemic. Also, a lot depends upon how quickly the economy can recover. One thing is for sure: we are living in truly unique times.

You Might Also Like to Read: When Will CERB End? Canada Emergency Response Benefit Details

Is it Safe to Fly Again During Coronavirus Covid-19?

A picture of people in airport to pose question is it safe to fly again during coronavirus covid 19

Is it safe to fly again during the coronavirus Covid-19? I was looking through my emails and saw an email from West Jet titled “Safety Above All”. I decided to click on it and the email highlighted all the measures they are taking to ensure safety for their customers during Covid-19.

Is it Safe To Fly Again During Coronavirus Covid-19? West Jet’s safety Measures

Check-in – Their website states that their check-in will be similar as before. The change is that they will be wiping counters down with disinfectant between customers. There will also be more room between customers in line and the agents will be wearing masks. Also customers will be handling their own luggage. The website also highlights downloading their app to limit contact with surfaces during your journey.

Boarding – West Jet’s website states that Transport Canada requires everyone over the age of 2 years old to wear a face covering throughout your travel. The covering can be a non medical face mask or scarf. Regarding West Jet’s boarding policy here are the highlights of it below:

Boarding requirements policy

Health questionnaire

  • In compliance with Transport Canada regulations, to help prevent the spread of Coronavirus (COVID-19), we require all guests to respond to a heath questionnaire at the time of boarding.
  • We urge guests to respond truthfully as providing false or misleading information could result in a $5,000 fine under the Aeronautics Act.

Symptom screening

  • We will conduct non-contact temperature checks at all airports
  • If you are displaying COVID-19 symptoms, or feeling unwell, you cannot board a flight.
    • If you have a medical condition which presents symptoms similar to those of COVID-19, you will need a doctor’s note or medical certificate that states your medical condition to board the flight.

Denied boarding

  • If you have been ordered by provincial or territorial government or local public health to self-isolate or quarantine you will be denied boarding.
  • If you are denied boarding for a domestic flight, we will rebook you to travel at least 14 days after the original date.
    • To travel earlier, a valid medical certificate stating that you not affected by the COVID-19 virus is required.
  • Guests denied boarding for repatriation flights will not be re-accommodated.

During Flight – West Jet indicates they are limiting seating to ensure more space between passengers during flights. Their website also says that families who are travelling together can sit together. For flights over 90 minutes, there will be a bottle of water and a snack at your seat as you board the flight. Regarding flight attendants, they will be wearing personal protective equipment (PPE) and masks suited to their roles. 

Is it Safe to Fly Again During Coronavirus Covid-19? Cleaning Procedures

Cleaning – This is probably the area of most concern for travelers when flying and West Jet has a detailed procedure from their website below:

Upon Boarding

We’ll give you a sanitization wipe for your hands or any surface you wish to wipe down, for your peace of mind.

On board

We now clean our aircraft more extensively and more frequently. We continue to clean with aviation-approved products, including Sanicide (disinfectant) for galleys and lavatories, along with Celeste 8500 for:

  • tray tables
  • general seating areas
  • to ensure all guest contact surfaces are thoroughly disinfected

We’ve added two additional disinfecting products to our cleaning regime–hospital-grade Clorox Wipes and Spray for:

  • galleys
  • lavatories and door handles
  • tray tables
  • seat armrests and headrests
  • seatbelt buckles
  • PSU panel
  • Overhead-bin door latches

Fogging

The entire aircraft interior is completely disinfected using a hydrogen peroxide-based solution cleaner. Fogging allows us to thoroughly disinfect our aircraft at any time, with little disruption to our guests and operations. The new process takes approximately 15 minutes to complete and the product dissipates within 20 minutes. We’re working hard to ensure fogging can be expanded to every base we operate to as soon as possible. All WestJet 737 and Q400 aircraft are cleaned as part of their overnight cleaning and sanitization regimen. 

HEPA filters

All WestJet aircraft are equipped with an industry-leading air circulation system containing a HEPA filter, similar to what’s used in hospitals.

Not only do these filters introduce fresh air into the cabin every 2 to 3 minutes, but they also capture and filter 99.99% of all airborne particles so you can breathe a little easier.

Is it Safe To Fly Again During Coronavirus Covid-19? Conclusion

The safety measures West Jet has taken is extensive and it appears a great deal of of thought and research has gone into developing them. So is it safe to fly again during the Coronavirus pandemic? For me the answer is still no. Even though these procedures are in place, they have not been tested to ensure they keep everyone safe. In my mind to fly now would mean that I would be the Guinea pig to see if these procedures work or not. Some might say that it is worth the risk and that is their choice. In fact, I’m sure a lot of people will decide to give air travel a try again.

However, for my family the risk is too high. The reality is that we are in a once in a generation pandemic in which there is no cure or vaccine as of yet. And worldwide, COVID cases are still growing. Not only would I be concerned about the actual air travel, but also getting stuck somewhere else if a lockdown was called again.

Will I travel again? Of course! But until the world gets a handle on Covid-19 or there is a reliable vaccine, my travel will be limited. Stay safe!

**Update Regards to Seating as of July 1, 2020**

Both Air Canada And West Jet will be offering every seat for sale on their flights as of July 1, 2020. This will end their physical distancing measures on their flights. As a result many people who booked flights with the airlines are now demanding refunds as they felt misled to believe that there would be no one in the middle seat. Regarding if this step is safe, here’s a quote from a recent CTV article below:

While Transport Canada recommends physical distancing on flights to prevent the spread of COVID-19, it’s not law.

“On WestJet’s website, the airline states that they decided to end the blocking off of adjacent seats because they are following the International Air Transport Association’s (IATA) guidance for global health and safety.

They say IATA’s guidelines support removing physical distancing because they are already providing other protections against the virus, such as HEPA filters to clean recirculated air, airflow being directed up instead of forward or backward, and “the physical barrier of seat backs.”

The IATA, Lukacs pointed out, is not a health organization, but an airline association, which he says is serving the financial interests of airlines.”

Is it Safe to Fly Again During Coronavirus, Updated Conclusion

To sum things up, Coronavirus is very contagious and unpredictable. However, the one thing we know is that physical distancing is a strong defense against the virus. Especially if you are inside a building or an enclosed area for any length of time. In my opinion, the airlines are playing Russian Roulette with solely focusing on short term financial gain at the cost of long term pain. It is a risky proposition because more people can become sick. Also, there is more chance to keep spreading the virus all over the country and beyond.

Think about, how did covid-19 get here? It got here from flights, so logically the first line of defense to slow the spread is to put strong safety measures on flights. Air Canada’s and West Jet’s decisions to allow seating in the middle seat does not do that at all. And that is why I will not be flying anytime soon. Stay safe.

How Do I Apply For the CECRA For Small Businesses?

A picture of a store opening to denote a business being able to stay open due to their landlord applying for the CECRA program to help reduce their rent.

How do I apply for the CECRA for small businesses? What is the CECRA program? The Canadian government just announced more emergency measures for small businesses to help weather Covid-19. However, this time the focus is on helping commercial landlords. Let’s explain this new program.

How Do I Apply For the CECRA – What is it?

CECRA stands for Canada Emergency Commercial Rent Assistance for small businesses. The goal of the program is to provide rental relief for small businesses. The government achieves this by providing forgivable loans to commercial landlords as an incentive to lower rents for their tenants.

How Do I Apply For The CECRA – How Does it Work?

First, the commercial landlord goes into an agreement with their tenant(s) to reduce their rent to 25% of normal rate for three months (April 2020 , May 2020, June 2020). The landlord will then take a loan from the Government of Canada to cover the other 75% for this time frame. If the landlord and tenant meet the program’s criteria, the landlord can have 2/3 of his/her loan forgiven. What does this mean in layman’s terms?

Suppose a landlord had a tenant who was paying $20,000 in rent each month. If the landlord wanted to be part of this program, they would go into an agreement to reduce their rent by 75% for April, May and June. This means the tenant would only pay $5000 per month for these three months. The landlord would then take a loan for $15000 per month for the three months from the government or $45000 in total. The landlord then can potentially have $10000 per month of the loan forgiven or $30000.

So what does this mean? it means that landlord will receive 75% of the required rent for these 3 months instead of 100%. The tenant will only pay 25% of their rent for same period. This means the landlord will incur a 25% loss in rent this time frame. But this amount is covered by the loan in which they pay back. Why would landlords choose to do this?

What is the Incentive for Landlords?

The government is banking on 3 reasons that landlords will apply for the programs. Here is a summary of the reasons from the Canada Mortgage and Housing Corporation whom the government is using to administer this program.

  1. There is an incentive of getting a government loan where potentially 2/3 of it could be forgiven.
  2. The landlord is guaranteed at least 50% of your rent for the months of April, May, and June. This is huge considering the alternative could be receiving NOTHING in rent if businesses can’t afford to pay.
  3. Finally, eviction and finding new tenants can be an expensive and time consuming process that could be very costly. So, perhaps landlords can prevent this altogether.

How Can I Apply For The CECRA Program?

You will need to go to the CMHC website. However, the application portal for this program will not be open until Monday May 25, 2020 at 8:00 am eastern time. And then the government will take a staggered approach for applying due to the expected high volume. Here’s the schedule from the the CMHC website below:

NOTE: Once registered, the portal will be available 24/7 for applicants to input data and upload documents.

DayWho should register?
MondayProperty owners who are located in Atlantic Canada, BC, Alberta and Quebec, with up to 10 tenants who are eligible for the program
TuesdayProperty owners who are located in Manitoba, Saskatchewan, Ontario and the Territories, with up to 10 tenants who are eligible for the program
WednesdayAll other property owners in Manitoba, Saskatchewan, Ontario and the Territories
ThursdayAll other property owners in Atlantic Canada, BC, Alberta and Quebec
FridayAll

What Information Will I Need to Apply For the CECRA Program?

There are a few pieces of information you will need to give to apply for the program. Here are a list below from the the CMHC website:

Attestations

  • Tenant or Sub-tenant’s Attestation (sample PDF):
    Property owners must have each of their eligible commercial small business tenants and/or subtenants sign an attestation. The Tenants are responsible for attesting to their eligibility with the program requirements. 
  • Property Owner’s Attestation (sample PDF):
    Property owners must sign an attestation. This confirms the information relating to the property owner and the property provided in the application is correct. And it attest to their eligibility with the program requirements.

Agreements

  • Rent Reduction Agreement (sample PDF): All application documents will be accessible on May 25, 2020.
    Property owners must enter into a legally binding rent reduction agreement with each impacted tenant. And confirm the rent reduction in accordance with the program terms and conditions.  This agreement is conditional upon final approval of the application for CECRA for small businesses.
  • Forgivable Loan Agreement (sample PDF):
    Property owners must agree to the terms and conditions in the application and outlined in the forgivable loan agreement.

You’ll also need to provide the following information:

Property owner information

  • Property information includes: property address, property type, property tax statement, latest rent roll for each property and the number of commercial units
  • Applicant information includes: banking information, property owner contact information, co-ownership information and contact details for co-owners

Tenant information

  • Tenant information includes: tenant contact information, registered business name, lease area and the monthly gross rent for the period of April, May and June 2020

Conclusion

The CECRA program is a very detailed program. If you think you might want to apply, please go to the CMHC website and read it carefully. However, the amount of information provided could be overwhelming. Hopefully this summary helps you in understanding the program better. Which is important because this is a big decision to make and the stakes are high. Stay safe everyone.