Large Employer Emergency Financing Facility (LEEFF)
NOTE: As of July 29, 2022, CEEFC is no longer accepting new LEEFF applications.
Canada Development Investment Corporation’s Emergency COVID-19 Mandate
In 2020, CDEV was mandated to assist the Government of Canada as part of Canada’s COVID-19 Economic Response Plan by implementing the Large Employer Emergency Financing Facility through its subsidiary, Canada Enterprise Emergency Funding Corporation (CEEFC), in cooperation with Innovation, Science and Economic Development Canada (ISED) and the Department of Finance.
This program provides emergency funding support for large Canadian enterprises facing financial challenges in light of the economic impact of the global COVID-19 pandemic. CEEFC was formed to administer this mandate.
As of July 29, 2022, CEEFC is no longer accepting new LEEFF applications. LEEFF was open to large Canadian employers who (a) have a significant impact on Canada’s economy, as demonstrated by (i) having significant operations in Canada or (ii) supporting a significant workforce in Canada; (b) can generally demonstrate approximately $300 million or more in annual revenues; and (c) require a minimum loan size of about $60 million.
The list of approved loans can be found here: https://ceefc-cfuec.ca/approved-loans/
To learn more about the program’s performance, consult CEEFC’s annual reports at https://ceefc-cfuec.ca/annual-reports/