The Large Enterprise Tariff Loan (LETL) facility, established by the Government of Canada, provides interest-bearing term loans to large Canadian businesses that have been or expect to be affected by new tariffs and related countermeasures.
The facility is designed to provide eligible businesses with financing to support up to 36 months of liquidity and operating needs, following efforts to secure financing through traditional market sources.
The LETL facility is delivered by the Canada Development Investment Corporation (CDEV) through its subsidiary, the Canada Enterprise Emergency Funding Corporation (CEEFC).
Eligibility requirements
An objective of the LETL facility is to provide support to otherwise viable large Canadian firms operating whose operations have been impacted by actual or potential tariffs. It is open to large Canadian enterprises which:
- which have significant operations in Canada or a significant workforce in Canada;
- have approximately $150 million, or more, in annual Canadian revenue;
- do not have a going concern qualification in their most recent annual or interim financial statements (other than directly related to tariffs and countermeasures) unless they can demonstrate that it was solvent as at December 31, 2024;
- have not filed for protection under bankruptcy or insolvency legislation; and
- have sought to secure financing through traditional sources of market financing.
Amount
There is no minimum loan amount. The amount made available will be based on the applicant’s estimated cash needs over the next 24 months, net of available liquidity. The loan size for each applicant will be assessed on a case-by-case basis based on demonstrated need and the reasonableness of management’s business plan assumptions.
