Morneau says new corporate program offers 'bridge loans' not 'bailouts'

COVID 19 Money-Stadtratte

Finance Minister Bill Morneau says the federal government's new loan program for Canada's largest corporations is designed to keep employees on their payrolls and avoid bankruptcies.
    
He says companies that receive bridge financing through the Large Employer Emergency Financing Facility will have to give the government the option to take an equity stake in the business, or provide a cash equivalent.
    
Morneau says the terms are designed to make sure companies using the program receive bridge loans, not bailouts.