Small businesses get 30-day rent grace period

Small businesses in Luzon are granted a 30-day grace period for paying commercial rents that fall due during the enhanced community quarantine.

This rent relief, approved by the Inter-Agency Task Force (IATF) upon the proposal of the Department of Trade and Industry (DTI), is part of the implementation of the Bayanihan to Heal as One Act.

The 30-day reprieve on commercial rents for micro, small, and medium enterprises (MSMEs) will be without incurring interests, penalties, fees, and other charges.

Trade Secretary Ramon Lopez clarified that the rent amount would be spread out over the next few months, potentially six months.

The government also encourages commercial lessors to waive one month's rent for MSMEs compelled to close due to the ECQ.

The Bayanihan law also allows for a 30-day grace period on residential rents and loan payments without additional charges.

The enhanced community quarantine in Luzon is currently in effect until April 12.