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online payday loans Share Share this Story: COVID: Federal commercial rent relief program helps, but businesses worry about gaps Copy Link Email Facebook Twitter Reddit Pinterest LinkedIn TumblrNews Local News COVID 19 Politics National COVID 19 Crime World Education Staff Blogs Weather Podcasts BC Public Sector Salaries Database Archives Hot Topics Business Local Business Open during COVID Featured Businesses Energy Mortgages Real Estate Commercial Real Estate Economy Next Technology Gaming Internet Personal Tech Retail FP Markets Small Business BC Top Employers Opinion Columnists Letters Op Ed Sports Hockey Vancouver Canucks NHL Football BC Lions CFL NFL Soccer Vancouver Whitecaps MLS International Baseball Basketball NBA NCAA Golf Golf Videos MMA Curling Tennis Auto Racing Arts Local Arts Celebrity Movies Movie Listings Television TV Listings Music Theatre Festivals Books Life Shopping Essentials Food Local Food Reviews Recipes Wine Country Salut! Health Local Health Diet Fitness Family Child Men Women Seniors Sexual Health Fashion Beauty Parenting Relationships Royals Puzzles New York Times Crossword Comics Advice Horoscopes Contests National Contests Homes Buying Selling Westcoast Homes and Design Current Issue Condos Decorating Gardening Renovating Out of Town Properties Travel Local Travel International Travel Obituaries Place an Obituary Place an In Memoriam Classifieds Place an Ad Celebrations Real Estate Marketplace Local Directory This Week’s Flyers Jobs Auction Driving All Driving News Reviews Car Comparison Buyer’s Guide Healthing The GrowthOp Videos ePaper Our Offers My Account FAQShare this Story: COVID: Federal commercial rent relief program helps, but businesses worry about gaps Copy Link Email Facebook Twitter Reddit Pinterest LinkedIn TumblrBreadcrumb Trail Links Local News Local Business Business COVID: Federal commercial rent relief program helps, but businesses worry about gaps Businesses worry that Canada Emergency Commercial Rent Assistance Program depends too much on co operation of landlords. Photo by Francis Georgian /PNG Article content The federal COVID 19 commercial rent relief program will help a lot of small businesses but will leave cracks some firms will fall through and is too reliant on the co operation of landlords, according to Metro Vancouver business owners and industry groups.On Friday, Prime Minister Justin Trudeau unveiled details of the program that was announced a week ago, which would give a 75 per cent break on rent for qualifying businesses for three months, retroactive to April.All provinces and territories have signed on to the Canada Emergency Commercial Rent Assistance program, which offers loans to qualifying commercial property owners to cover 50 per cent of tenant rent payments for April, May and June.”This is really welcome relief for businesses as they’re clearly running out of cash and time,” said Bridgette Anderson, CEO of the Greater Vancouver Board of Trade, but “there are lots of questions about how the program is going to actually work.”Story continues belowThis advertisement has not loaded yet, but your article continues below. Chamber of Commerce poll, and rent factored into the top three list of costs they’re concerned about.Now payday loans for bad credit, with May 1 around the corner, “help is really critical,” Anderson said.Businesses that will qualify for the break are those that have had to close their doors or suffered at least a 70 per cent loss in pre COVID 19 revenue, but require a landlord’s co operation to sign on.Loans are intended to be a bridge for landlords and will be forgiven if a mortgaged property owner agrees to cut the rents of eligible tenants by at least 75 per cent for the three months and pledge not to evict tenants.”It will be interesting to see how landlords are going to respond to this,” Anderson said, and “it will be incredibly important to understand when these funds and this rent relief will be in the hands of businesses.”Commercial Drive salon owner Sally Traynor was disappointed that Friday’s announcement didn’t come with a requirement that provinces enact blanket moratoriums on commercial evictions, like the one granted by the province to residential tenants..online payday loans

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