I think to a large degree that the rent subsidy will be offset by less use of the interest free loan, because many small businesses just can't go into more debt. I own a bathroom renovation business, we won't qualify for the rent subsidy as we remained running, albeit in a much smaller scale. But the other businesses in the building, pet grooming, hair salon, tattoo parlour, ceramics, kids special ed - all were shut down completely. I can see them taking advantage of the rent subsidy because they were very viable and should come back. But recovering 3-4 months of past rent when no services were being provided, that's too much to come back from when your transactions are service based. So the rent subsidy probably saves them, while the loan program probably would not have.