Unlimited Characters bookshop on Monday. (CHAT News photo)

By Alex McCuaig

Applications open

Commercial rent subsidy now available to businesses

Nov 23, 2020 | 4:58 PM

MEDICINE HAT, AB – It’s a relief program many businesses have been asking for – a commercial rent subsidy that allows business owners direct access to funds instead of requiring landlords to apply.

On Monday, applications for the Canada Emergency Rent Subsidy (CERS) opened, allowing businesses access to up to 65 per cent of their rent.

For George Giffen, the owner of Unlimited Characters bookshop, the pandemic shutdown hit his business hard.

“It was basically three months of bleeding,” said Giffen.

WHAT'S ON

Here is what's on this weekend in Medicine Hat and area: Dec. 13-15

Dec 14, 2024

IN THE COMMUNITY

Medicine Hat's Mustard Seed adding new shelter spaces at Alberta government's request

Dec 12, 2024

HOLIDAYS

Medicine Hat Kiwanis hosting Christmas dinner, applications due Friday

Dec 12, 2024

Making things more difficult was the process involved in applying for the initial commercial rent subsidy launched by the federal government required the landlord to apply to the program.

The application process itself was complicated and also required the landlord to absorb 25 per cent of the rent which many weren’t keen to do.

“The previous one I wasn’t able to qualify because it was out of my hands,” said Giffen. “There was nothing I could do about it but at least this time now I have a fighting chance to gain some form of government help.”

In addition to businesses who qualify for the maximum subsidy by revenue losses of 70 per cent or more, those with less loss of business due to the pandemic will also qualify for CERS.

The two other brackets include those with revenue drops of 50 to 70 per cent along with businesses which saw less than 50 per cent impact from the pandemic.

The changes were something the Medicine Hat & District Chamber of Commerce welcome and which chambers from across the country were asking for, says president Marcus Campbell.

“It’s long overdue from a Chamber standpoint,” he said.

Campbell says the biggest effect of CERS will be on small businesses.

“They are going to get some help. We’re really happy it is going to go to the business owners and not the landlords,” he said.

In addition to the basic commercial rent subsidy, if a business is required to shut down due to public health restrictions, companies could be eligible for an additional 25 per cent subsidy.