Toronto, ON converts Rent Bank support from loans to grants to help renters impacted by the pandemic

Toronto, ON Rent Bank Loans Grants Pandemic Renters

The Toronto Rent Bank previously issued loans to qualifying applicants for rental deposits and monthly payments. A one-year pilot offered grants of up to CAD 4,000 for rent and CAD 2,100 for deposits by new applicants facing the financial impacts of COVID-19. City officials also approved a suspension of repayments by current users through March 2022. The CAD 5 million program's success led to a permanent switch to grants and additional support through community partners.

TO

Toronto, ON

City in Ontario

Canada