Federal government announces loan program for big companies

CKTB - NEWS - COVID-19 money

Finance Minister Bill Morneau and Industry Minister Navdeep Bains have announced the federal government will provide loans and financing to Canada's biggest companies.

Bridge financing will be made available to companies whose financial needs aren't being met by conventional credit so they can stay open and retain their employees.

The financing program is aimed at companies with $300 million or more in revenues and is open to all sectors of the economy.

Financial institutions, such as banks, will not be eligible.