May 20, 2020 – Department of Finance Canada: Finance Minister Bill Morneau and Minister of Innovation, Science and Industry Navdeep Bains, announced the opening of the application process for the government’s Large Employer Emergency Financing Facility (LEEFF).
The program will support Canada’s largest employers, whose needs during the pandemic are not being met through conventional financing. LEEFF will help successful applicants keep their operations going.
The objective of this support is to help protect Canadian jobs, help Canadian businesses weather the current economic challenges, and avoid bankruptcies of otherwise viable firms where possible. This support 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.
Read the full press release here.