CANADA ENTERPRISE EMERGENCY FUNDING CORPORATION (CEEFC)
LARGE EMPLOYER EMERGENCY FINANCING FACILITY (LEEFF)
NOTE: As of July 29, 2022, CEEFC is no longer accepting new LEEFF applications
Canada Development Investment Corporation’s Emergency COVID-19 Mandate
CDEV and CEEFC have been mandated to assist the Government of Canada as part of Canada’s COVID-19 Economic Response Plan.
As a federal Canadian Crown Corporation established to manage investments assigned to it, CDEV has been mandated to implement the Government of Canada’s Large Employer Emergency Financing Facility in cooperation with Innovation, Science and Economic Development Canada (ISED) and the Department of Finance.
This program will provide emergency funding support for large Canadian enterprises facing financial challenges in light of the economic impact of the global COVID-19 pandemic. CEEFC has been formed to administer this mandate.
LEEFF will be open to large Canadian employers who (a) have a significant impact on Canada’s economy, as demonstrated by (i) having significant operations in Canada or (ii) supporting a significant workforce in Canada; (b) can generally demonstrate approximately $300 million or more in annual revenues; and (c) require a minimum loan size of about $60 million.
Broader sectoral dynamics for LEEFF applicants will be considered by Innovation Science and Economic Development Canada. As part of this process, applicants will also be contacted by ISED officials.
A factsheet providing responses to frequently asked questions about LEEFF is available https://www.ceefc-cfuec.ca/leeff-factsheet/
The government’s announcement can be found here: https://pm.gc.ca/en/news/news-releases/2020/05/11/prime-minister-announces-additional-support-businesses-help-save
Additional COVID-19 Support Measures for Businesses and Individuals
CEEFC’s and CDEV’s mandate relates exclusively to the Government of Canada’s LEEFF Program.
For inquiries relating to other government support measures for Canadian businesses and individuals, please refer to https://www.canada.ca/en/department-finance/economic-response-plan.html
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