In a press conference today, Prime Minister Justin Trudeau announced relief for small businesses.
The aim is to reduce rent by 75 percent. The program will provide forgivable loans that will cover 50 percent of the monthly rent payments. The loans would be forgiven if the mortgaged property owner agrees under a rent forgiveness agreement.
This support will be available to small businesses that have ceased operation and paying less than $50,000 in rent as well as non-profits and charities. This is all part of the governments economic response program.
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