Support to Mitigate Tariffs

Canada’s Large Enterprise Tariff Loan (LETL) provides loans of $30 million plus to Canadian enterprises with annual revenues of $150 million or more, who are facing up to a 36-month liquidity shortfall due to new tariffs and have already exhausted traditional funding sources. The program offers financing to support liquidity and working capital requirements to sustain operations and preserve employment.

Eligible applicants include Canadian enterprises that:

• Have significant operations or a significant workforce in Canada
• Were solvent as of December 31, 2024
• Have not filed for bankruptcy or insolvency protection

Financing is determined based on the applicant’s demonstrated liquidity requirements and business plan. There is no stated maximum loan amount. 

Applicants must provide a 24-month employment plan, make reasonable efforts to maintain employment, and commit to a “Buy Canadian” policy that prioritizes domestic suppliers and seeks to increase sales to commercially feasible Canadian markets.

Interest rates are determined based on financial position, employment commitments, contribution to Canada’s economic or national security, supply-chain importance and other factors. Interest will not be lower than the Government of Canada’s 10-year bond yield plus 25 basis points.

Loans cannot be used to refinance existing debt, fund major acquisitions, expansion projects or new ventures, or support operations outside Canada. There is currently no fixed application deadline.