Access to Capital

Scroll down to find information on the following initiatives:


Large Employer Emergency Financing Facility (LEEFF)

LEEFF is a program instituted by the Government of Canada to provide short-term liquidity assistance in the form of interest-bearing term loans to large Canadian employers who have been affected by the COVID-19 outbreak.

Objective:

  • To provide bridge financing to large Canadian employers until they can access more traditional market financing.
  • To help enterprises to preserve their employment and help protect Canadian jobs;
  • To avoid bankruptcies of otherwise viable firms where possible.

Eligibility:

LEEFF will be open to large Canadian employers who:

  • Have a significant impact on Canada’s economy, as demonstrated by having significant operations in Canada or supporting a significant workforce in Canada.
  • Can generally demonstrate approximately $300 million or more in annual revenues.
  • Require a minimum loan size of $60 million.

Large for-profit enterprises in all sectors, except for those in the financial sector, can apply for funding under LEEFF. Certain not-for-profit enterprises, such as airports, could also be eligible. Companies that have been found guilty of tax evasion are not eligible under the program.

Application Process:

Applicants should register their interest at , and will be contacted by both representatives of CEEFC and ISED Canada to begin the process.

A CEEFC representative will promptly send applicants a non-disclosure agreement, application form, and instructions.

Deadline:

LEEFF will be open while the current economic situation persists.

For More Information:

Visit the LEEFF website for full details.

A factsheet for LEEFF can also be found here, while LEEFF FAQs can be found here.


Expansion of the Business Credit Availability Program (BCAP)

Get the cash flow you need during the COVID-19 pandemic by working with your financial institution and Export Development Canada (EDC).

EDC has partnered with financial institutions to help businesses of all sizes, sectors, and regions address the financial impacts of COVID-19.

Qualified applicants can quickly improve their cash flow, through their bank or credit union, to help manage day-to-day expenses, like buying inventory and paying your suppliers, or for new costs your business bears, due to COVID-19.

How It Works:

  • EDC provides a guarantee to your financial institution for the majority of the money you borrow, encouraging them to increase your company’s access to credit.
  • The size of your loan or line of credit is determined by your financial institution.
  • This guarantee to your financial institution is specifically for new operating lines of credit or new term loans to sustain operations in response to COVID-19.

Program Criteria:

  • Your business does not need to have export sales to qualify for this program.
  • Eligibility for the EDC BCAP Guarantee is subject to additional requirements through approved financial institutions.
  • Proceeds from your loan must be used to finance business operating costs and cannot be used to repay or refinance existing debt.

For More Information:

Visit the EDC BCAP website for full details.