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Canada extends coronavirus commerical rent relief program one last time

Click to play video 'Coronavirus: Freeland says government working on rent relief for small business, asks landlords to help' Coronavirus: Freeland says government working on rent relief for small business, asks landlords to help
WATCH: Freeland says government working on rent relief for small business, asks landlords to help

The federal government is extending its commercial rent-relief program one last time.

The Liberals say the program that aims to help small businesses with their rent or lease costs will be extended for this month, unveiling the details one week after rent was due.

Read more: Commercial rent program projected to fall short of budget, report shows

In a release, the government says the one-month lifeline is a “final extension” for the program and that officials are looking at other options to help small businesses.

The rent-relief program provides forgivable loans that cover half of rent for eligible small businesses, and also requires landlords to waive a further one-quarter of what they’d otherwise be owed.

Click to play video 'Coronavirus outbreak: Trudeau discusses commercial rent relief for small-and mid-sized 
businesses' Coronavirus outbreak: Trudeau discusses commercial rent relief for small-and mid-sized businesses
Coronavirus outbreak: Trudeau discusses commercial rent relief for small-and mid-sized businesses

Property owners have to apply for the help, but take-up has lagged expectations and spending is projected to fall far short of the nearly $3 billion the Liberals have budgeted.

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The government says that as of the start of this week, the program had provided over $1.32 billion in aid to more than 106,000 small-business tenants.