Canada Enterprise Emergency Funding Corporation

On July 16, 2025, the Government of Canada announced that the Large Enterprise Tariff Loan facility will be updated to expand eligibility and provide lower cost financing to firms in the steel industry.

This update is part of a series of targeted measures announced by the Government of Canada to support Canada’s steel industry amid current tensions in global steel trade.

These changes will include:

1. reducing the minimum annual revenue requirement from $300 million to $150 million,

2. reducing the minimum loan size from $60 million to $30 million,

3. extending the loan maturity from 5 to 7 years,

4. reducing the initial interest rate, and

5. requiring companies to prioritize worker retention.

We are working on implementing these changes and will be posting more information on our website in due course.

“We stand behind Canada’s steel industry and this announcement reinforces how pivotal LETL is to support critical businesses as they currently navigate current trade tensions,” says Elizabeth Wademan, President and CEO of Canada Development Investment Corporation (CDEV), the parent company of Canada Enterprise Emergency Funding Corporation (CEEFC). “It is also a testament to the trust the Government of Canada puts in our ability to help Canada overcome its greatest economic challenges.”

For reference:

News release from the Prime Minister of Canada on July 16, 2025: Prime Minister Carney announces new measures to protect and strengthen Canada’s steel industry