COVID-19 Help

The deadline to apply has been extended to June 30, 2021

Please read the attestation carefully before you submit your application as you can not have applied for the Regional Relief and Recovery Fund too.  To read more about CEBA, go to https://ceba-cuec.ca/ 

There may be unintentional negative consequences for applying for the additional $20,000. Suggested reading before applying:

 From the  tax website  TaxTips.ca – CEBA – Canada Emergency Business Account

 It important that you know what the $40,000 + the additional $20,000 loan actually means to you before applying:

“Important:  If you’re considering applying for the additional $20,000 CEBA loan, be aware that it can change the requirements for the original $40,000 loan.  If your attestation for the $40,000 said you could use the funds for “without limitation, payroll” etc., that will be changed to use for only Eligible Non-Deferrable Expenses, which includes only non-arm’s length payroll (i.e., not owners’ wages).  See the Crowe Soberman article CEBA Expansion – Think Twice Before Applying for the Additional $20,000.”

 

NOW accepting applications – closes May 31st

  • Alberta organizations that were ordered to close or curtail operations from April 6, 2021 and later AND have experienced a revenue reduction of at least 30%, as a result of the COVID-19 pandemic can apply;
  • The grant is used to support businesses affected by the public health measures introduced in April 2021;
  • The Spring 2021 payment is calculated as 15% of the eligible organization’s revenue from the chosen month to a maximum of $10,000;
  • See webpage for information and how to apply https://www.alberta.ca/sme-relaunch-grant.aspx

     Application is due 180 days from the end of the period claim

Budget proposed to extend CEWS to September 25, 2021   

 

 

Application is due 180 days from the end of the period claim

Budget proposed to extend CERS to September 25, 2021  

 

     

 

 

 

The truth is every lease is different. Your lease may have specific provisions for circumstantial deferred rent or rent abatement during times of material business interruption or revenue loss (many companies also have business interruption insurance for this reason, but to date this Covid-19 pandemic is not definitively being covered). If you do have these provisions in your lease, we can help you speak to your landlord about exercising these rights.

If you do not, now is the time to talk to your landlord. Our job as a tenant-only representative is to be part of the process with you and we are happy to work with your Landlord on your behalf.

The first step is to define what you need to ensure your future stability and success and develop a plan.   There is no cookie-cutter solution, but we are prepared to work with you, to think creatively and strategize on how best to achieve what you need. 

Next, we will facilitate a conversation with your Landlord in a cooperative way and come to a solution that benefits you now when you need it most. 

We remain committed to be your unwavering advocate and your partner in our clients’ long-term success and are grateful to be in a line of work that lets us bring tangible benefit to you as a tenant.  There is no charge for this service; our goal is to earn the right to be your real estate advisor going forward.

Please reach out if we can answer any questions on how to handle paying rent, if you need recommendations for a lawyer or accountant, or if we can help you come up with a proposed relief plan to discuss with your Landlord  We are here to help. 

You can contact us at

Gary@COREcommercial.ca, Lori@COREcommercial.ca or Jeff@COREcommercial.ca  or visit our website at www.corecommercial.ca