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 is not used to resolve insolvencies or restructure firms, nor does it provide financing to companies that otherwise have the capacity to manage through the crisis. The additional liquidity provided through LEEFF allows 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 has been 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. As of July 29, 2022, CEEFC is no longer accepting new LEEFF applications.
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.
Summary information regarding CEEFC’s third quarter of 2023 is included in the Q3 2023 Management Discussion and Analysis of CDEV at www.cdev.gc.ca. Loans are published as they are issued. Details are available in the Approved Loans section of this website.