Rent relief to be extended to smaller business tenants as well

May 9 , 2020

On May 8, representatives from the Liberal Democratic Party and Komeito met Prime Minister Shinzo Abe to submit a joint proposal to provide rent relief to small tenants of commercial properties as part of the government’s economic stimulus package. The two parties are proposing such assistance as zero-interest, zero-collateral loans from state and private financial institutions and a special relief grant to tenants ranging from small business operators to individual enterprise owners that can show a 50% or more decrease in monthly revenues versus the same period last year.

Under the proposal, local governments offering similar rent relief programs would also be subsidized, while banks and other loan companies would be requested to ease loan terms on existing and new borrowings.

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