Hear At Last guiding clients towards Federal loan programs and other Government Incentives

Rhea-AI Summary

Hear At Last Holdings (OTC Pink: HRAL) is tracking various government and financial initiatives aimed at facilitating secondary suite construction in Canada. The company highlights several key programs:

Canadian banks introduced Laneway House Mortgages in August 2024, offering construction loans for garden suites in major urban areas. The Federal Government's Secondary Suite Loan Program doubled its loan limit from $40,000 to $80,000 in December 2024, providing 15-year terms at 2% interest.

Additional regional initiatives include Simcoe County's Secondary Suites Program, offering up to $30,000 per unit, and Toronto's February 2022 expansion of garden suite permissions. These programs collectively aim to increase housing density and rental unit availability in urban areas.

Positive

• Company positioning itself in growing secondary suite financing market
• Access to multiple government-backed loan programs with favorable terms
• Expansion into multiple major urban markets across Canada

Negative

• No specific revenue or business metrics provided
• Unclear direct financial benefit to company from these programs
• High dependence on government policies and programs

From the Government of Canada 2024 Fall Economic Statement: Making it easier for homeowners to build secondary suites
https://www.canada.ca/en/department-finance/news/2024/12/2024-fall-economic-statement-making-it-easier-for-homeowners-to-build-secondary-suites.html Department of Finance Canada

Toronto, Ontario--(Newsfile Corp. - March 10, 2025) - In recent months, Hear At Last Holdings (OTC Pink: HRAL) has been following the changes at the Federal, Provincial and Municipal levels, all working with their own separate programs, but all with the same goal - to facilitate the construction of garden suites and secondary suites in Canada, offering attractive and alternative financing options for homeowners.

Here are some notable developments:

Canadian Banks

In August 2024, some of the Canadian banks started to offer Laneway House Mortgages, a construction loan designed to help Canadian homeowners finance the building of laneway homes or garden suites on their properties. This product allows homeowners to expand their living space or generate additional rental income, contributing to increased housing density in urban areas. Initially available in the Greater Toronto Area, Greater Vancouver Area, and Calgary, the mortgage offers a solution for homeowners seeking to adapt their properties to evolving housing needs.

Federal Government's Secondary Suite Loan Program

In December 2024, the Federal Government announced plans to support homeowners in adding secondary suites by doubling the loan limit for the Canada Secondary Suite Loan Program from $40,000 to $80,000. This initiative aims to make it easier for homeowners to convert unused spaces, such as basements or garages, into rental units. The program offers financing with 15-year loan terms at a rate of 2%.

Simcoe County's Secondary Suites Program

Simcoe County offers the Secondary Suites Program, providing funding of up to $30,000 per unit for the creation of secondary or garden suites. This program is part of the county's efforts to address affordable housing supply and demand, offering financial assistance to homeowners looking to add rental units to their properties.

Toronto's Expansion of Garden Suites Permissions

In February 2022, Toronto City Council expanded permissions to allow residents to build garden suites on residential properties. Garden suites are detached housing units located in the backyard of an existing house. This policy change aims to increase the supply and variety of housing options in Toronto, providing homeowners with the opportunity to add rental units to their properties.

These initiatives reflect a growing recognition of the need for alternative financing and policy measures to support the development of garden suites and secondary suites, thereby enhancing housing options and affordability in urban centers across Canada.

About Hear AtLast Holdings, Inc, (OTC: HRAL)

The holding company that operates GetPushMonkey.com, an AI notification platform which improves user engagement, provides personalized experiences, and optimizes the effectiveness of your push notifications. Utilizing AI algorithms to analyze user behavior, preferences, and browsing history to tailor notifications to individual users. This can result in more relevant and engaging notifications that users are more likely to interact with which can result in increased company profits.

Contact Information:

Hear AtLast Holdings Inc
Pete Wanner, President
Tel: 416-918-6987
petewanner@gmail.com

SOURCE: Hear AtLast Holdings, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243861

FAQ

What is the new loan limit for HRAL's Federal Secondary Suite Program in 2024?

The Federal Secondary Suite Loan Program doubled from $40,000 to $80,000 in December 2024, offering 15-year loans at 2% interest.

Which cities are eligible for the Laneway House Mortgages program mentioned by HRAL?

The Laneway House Mortgages program is available in the Greater Toronto Area, Greater Vancouver Area, and Calgary.

How much funding does Simcoe County's Secondary Suites Program offer per unit?

Simcoe County's Secondary Suites Program provides funding of up to $30,000 per unit for creating secondary or garden suites.

When did Toronto expand its garden suites permissions as mentioned in HRAL's update?

Toronto City Council expanded permissions for garden suites on residential properties in February 2022.