Rent and Mortgage Relief for Small Businesses Devastated by Covid-19

Rent and Mortgage Relief for Small Businesses Devastated by Covid-19

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Please help small businesses devastated by Covid-19 by petitioning the government to offer rent and mortgage relief measures during forced closures.

With most provinces closing non-essential businesses, and consumption and consumer confidence at an all time low, many Canadian small businesses are looking at extinction. Most businesses have less than 30 days of cash on hand to weather such a storm. As revenue declines continue in the coming weeks and months, their futures look incredibly bleak.

By all accounts, the federal government knows small businesses constitute the backbone of our economy because they support up to 70 per cent of all jobs in Canada. Yet, the majority of our governments’ relief efforts are dedicated to supporting individuals and not businesses.

The launch of the new Canada Emergency Business Account to help provide interest-free loans is nothing more than a slap in the face to most small business owners. Small businesses are already struggling to pay next month’s rent or mortgage payments and can’t even begin to think of how they will pay back such loans with or without interest. Also, many Canadian small businesses will most likely not even be eligible to access such loan programs when available, then what?

At present, no current measures in Canada go far enough to keep small businesses - your local restaurants, retailers, hair stylists, sports and recreational service providers etc. - alive or with any viable prospect of future returns.

We know the federal government will step in for the banks, airlines and oil companies, but Canadians need our municipal, provincial and federal governments to step in and support the real engine of our economy: small businesses. Every small business in Canada is on a countdown clock to extinction.

Please sign the petition and help our small businesses get the support they need and deserve in regards to rent and mortgage relief during forced closures.