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Canada Enterprise
Emergency Funding Corporation

Canada Enterprise Emergency Funding Corporation

About CEEFC

Canada Enterprise Emergency Funding Corporation (“CEEFC”) is a federal Crown corporation, incorporated in May 2020 and is wholly owned by Canada Development Investment Corporation (“CDEV”), a parent Crown corporation. CEEFC is responsible for administering the Large Employer Emergency Funding Facility (“LEEFF”). The objective of LEEFF is to help protect Canadian jobs, help Canadian businesses weather the current economic downturn, and avoid bankruptcies of otherwise viable firms where possible. LEEFF will not be used to resolve insolvencies or restructure firms, nor will it provide financing to companies that otherwise have the capacity to manage through the crisis. The additional liquidity provided through LEEFF will allow Canada’s largest businesses and their suppliers to remain active during this difficult time, and position them for a rapid economic recovery. LEEFF is managed in accordance with terms and conditions approved by the Minister of Finance in cooperation with Innovation, Science and Economic Development Canada (ISED) and the Department of Finance.

CEEFC is responsible for receiving applications, assessing the requests against the eligibility criteria and terms approved by the Minister of Finance, and entering into, and funding transactions, in accordance with such terms. For more details on the programme please see LEEFF Overview.

CEEFC is led by a President & CEO who reports to the CEEFC Board of Directors who have overall responsibility for the corporation including the approval and management of loans. CEEFC is funded through preferred shares issued to the federal government.

CEEFC’s financial results are included in the consolidated financial statements of CDEV at www.cdev.gc.ca. As at the quarter ended June 30, 2020 no loans have been issued to borrowers. CEEFC has received several loan applications and is in the process of evaluating these requests.

Date modified: 2020-09-14