Speaking outside his Ottawa residence, Canadian Prime Minister Justin Trudeau said Wednesday that businesses facing a rent crunch will need to hold on through the COVID-19 pandemic and help with an eventual economic recovery, instead of closing up and slowing the rebound.

He said the government "really hopes" commercial landlords will apply for a federal program launching next week that would give companies a break on the rent, warning that they may find themselves out of cash in the future if they evict tenants now.

"With many people discovering that we can work from home ... there may be a lot of vacancies in commercial buildings over the coming months and years. Who knows exactly what the post-pandemic world will look like exactly?" Trudeau said.

Earlier in the day, the government unveiled details of a bridge financing program for large companies, saying that any receiving loans will have to give the government the option to take an ownership stake, or provide a cash equivalent.

Trudeau said the terms are designed to make sure companies using the program receive bridge loans, not bailouts, to get through COVID-19's economic disruptions.

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