Toronto, April 15, 2025 – Canada Development Investment Corp. (CDEV) is pleased to announce the launch of the Large Enterprise Tariff Loan (LETL) facility, a new initiative to support large Canadian enterprises affected by actual and potential new U.S. tariffs and associated countermeasures and which face challenges accessing traditional sources of market financing. CDEV has established and will manage the facility through its subsidiary, Canada Enterprise Emergency Funding Corp. (CEEFC).
This facility aims to support otherwise viable businesses in navigating challenges in accessing traditional sources of market financing, thereby helping these businesses to maintain operations and employment.
Eligible companies must have significant operations or workforce in Canada, demonstrate annual revenues of approximately $300 million or more, in annual Canadian revenue, and require a minimum loan size of $60 million.
Companies interested in applying for the LETL facility can assess their eligibility and submit an enquiry form to CEEFC via the CEEFC website at https://ceefc-cfuec.ca/
Upon evaluation, qualifying applicants will be contacted for further information.
Quick facts
- Established in 2020 by CDEV, CEEFC has been instrumental in administering the Large Employer Emergency Financing Facility (LEEFF) program, which provided emergency financing to large employers during the COVID-19 pandemic. Building on this experience, CDEV has been mandated to manage the LETL facility through CEEFC.
- As a condition of receiving financing, companies seeking support must commit to making reasonable commercial efforts to minimize the loss of employment, sustaining their domestic business activities and must demonstrate that funding under the LETL facility forms part of their overall transition plan to return to financial stability, whether tariffs imposed by Canada’s trading partners remain or are removed.
- The terms and conditions of the new credit facility are commercial in nature and designed to protect the interests of Canadian taxpayers while keeping businesses open and helping maintain Canadian jobs. Companies that were already involved in insolvency proceedings before this crisis began will not be eligible.
- CDEV provides the Government of Canada with specialized financial advisory around the country’s most complex and diverse commercial interests. For over 40 years, CDEV, a federal Crown corporation reporting to the minister of Finance, has been the entity of choice for critical financial transaction needed to help Canada achieve its goals and maximize the value of government corporate assets.