Toronto, June 19, 2020 – Today, the Canadian Federation of Independent Business (CFIB) issued an open letter to Finance Minister Bill Morneau on behalf of hard-hit small businesses calling for urgent action to fix the Canada Emergency Commercial Rent Assistance (CECRA) program and expand the Canada Emergency Business Account (CEBA) program.
In its open letter, CFIB recommends that the government:
- Allow tenants to access CECRA funds directly, including government tenants
- Significantly lower the CECRA revenue reduction criteria
- Allow those who qualify for April and May to automatically qualify for June and simplify the program going forward to eliminate the need to forecast revenue
- Extend the CECRA program to September, with the possibility of further extension if necessary
- Expand the CEBA loan to $60,000 and increase the forgivable portion to 50 per cent
Read CFIB’s open letter to Minister Morneau for more details.
For media enquiries or interviews, please contact:
Milena Stanoeva, CFIB
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every industry and region. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.