May 20 2020 12:06pm

Coronavirus outbreak: Trudeau says government should be considered a ‘lender of last resort’ for large businesses

Speaking to reporters outside Rideau Cottage in Ottawa on Tuesday, Canadian Prime Minister Justin Trudeau said large businesses should consider the federal government a “lender of last resort” when explaining why federal relief for large businesses during COVID-19 comes with some conditions. The Large Employer Emergency Financing Facility (LEEFF) was announced last week and will provide short-term bridge financing to companies with $300-million or more in annual revenues looking for loans worth at least $60 million but unable to secure them from banks or other private lenders.

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