Toronto’s Giving Out $4000 Loans To Residents Who Can’t Afford Rent Right Now
The city is offering two relief programs.
As another month of rent quickly approaches, some residents are having trouble making their bills. However, the City of Toronto has announced that they are lending a helping hand to those who are struggling thanks to Toronto's Rent Bank program. The City will be giving interest-free loans of up to $4,000 for eligible households.
In April, Ontario lostacross the province, which have left many without money to afford their bills during these trying times.
However, in a tweet on Wednesday, the City of Toronto announced that anyone who was struggling with rent for June could reach out to them for help.
This program provides interest-free repayable loans to low-income households "facing eviction due to short-term financial difficulties."
The program recently received a whopping $2 million investment, which significantly enhanced its reach, allowing to support hundreds of additional struggling homes.
Toronto renters wondering whether or not they are eligible for the program should check out the qualifiers listed on the city's website.
Some of these include being a low-income household and having legal status in Canada.
Alternatively, renters can also apply to the Housing Stabilization Fund which provides money to renters who are in need.
However, in order to apply, you need to be receiving assistance throughout Ontario Works or the Ontario Disability Support Program.
This money would be able to help renters with rental fees, bed bugs and moving costs.
While these two programs help to offer some reassurance to some residents, Toronto isn't the only area that has been struggling with rent.
Doug Ford announced earlier this year that those who are unable to pay their rent during the pandemicfrom their homes.
“We want to make sure you and your family can stay in your home during this difficult time so you can put your health and the health of others first,” the premier stated.
Back in April, multiple residents around Toronto announced that they would bethroughout the month.
The move was so that they could use the extra money to help provide to themselves and their families during the pandemic.