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ARTICLE · 29 MAY 2020

Large Employer Emergency Financing Facility (LEEFF)

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On May 20, 2020, applications for LEEFF opened and further details regarding the program were announced.

CanadaCorporate/Commercial Law
Brad Schneider
Brad Schneider
Allison Sears
Allison Sears
Daphne R. Rodzinyak
Daphne R. Rodzinyak
Aman Marwaha
Aman Marwaha
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On May 13, 2020 we published COVID-19 Access to Credit for Large-Cap Energy Companies to provide a general overview of the Large Employer Emergency Financing Facility (LEEFF), 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. On May 20, 2020, applications for LEEFF opened and further details regarding the program were announced.

The intent of LEEFF is to provide bridge financing to large Canadian employers to help such enterprises preserve their employment, operations and investment activities until they can access more traditional market financing. LEEFF will be delivered through Canada Enterprise Emergency Funding Corporation (CEEFC), a newly formed subsidiary of Canada Development Investment Corporation, in cooperation with Innovation, Science and Economic Development Canada (ISED Canada) and the

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