Federal supports update
We have been working closely for several months with other Vancouver BIAs to advocate for better support for businesses from government. Today the government announced some important and hopefully positive changes to their programs.
Though the new rent relief program doesn’t satisfy all of our requests, it does improve on the CECRA program it replaces. For example, the new program allows businesses to apply directly for rent relief on a sliding scale according to their drop in revenue.
There was good news, too, on the Canada Emergency Business Account (CEBA) with an increase in the amount of forgivable lending to $20,000. The Canada Emergency Wage Subsidy was also modified to maintain 65% wage support rather than dropping to 45% as previously planned.
As always, we will remain engaged with all levels of government and I welcome all your input on how we can best support you.
Check this section often as we find and learn of other programs that may assist you during this crisis.
Though the new rent relief program doesn’t satisfy all of our requests, it does improve on the CECRA program it replaces. For example, the new program allows businesses to apply directly for rent relief on a sliding scale according to their drop in revenue.
There was good news, too, on the Canada Emergency Business Account (CEBA) with an increase in the amount of forgivable lending to $20,000. The Canada Emergency Wage Subsidy was also modified to maintain 65% wage support rather than dropping to 45% as previously planned.
As always, we will remain engaged with all levels of government and I welcome all your input on how we can best support you.
Check this section often as we find and learn of other programs that may assist you during this crisis.
