This new program is an improvement of the previous Canada Emergency Commercial Rent Assistance Program (CECRA).
Canada Emergency Rent Subsidy (CERS) is a new program that subsidizes a percentage of rent and mortgage expenses from September 27, 2020 until June 2021 for qualifying organizations.
CERS is provided directly to tenants and details up until December 19, 2020 have been announced thus far.
The maximum base rate subsidy of 65% is available to organizations with a revenue drop of 70% or more. The base rate would then decline on a sliding scale to a rate of 40% for organizations with a revenue drop of 50% and would gradually reduce to zero for those not experiencing a decline in revenues.
If an organization has been temporarily shut down by a mandatory public health order issued by a qualifying public health authority, an additional Lockdown Support of 25% of rent and mortgage expenses could be subsidized.
Applications can be made through CRA My Business Account or Represent a Client.