Feds to Seek Equity or Cash From Companies Applying for New COVID-19 Loan Program

Feds to Seek Equity or Cash From Companies Applying for New COVID-19 Loan Program
Minister of Finance Bill Morneau listens to a question during a news conference Friday May 1, 2020 in Ottawa. Adrian Wyld/THE CANADIAN PRESS
The Canadian Press
Updated:

OTTAWA—Large companies that receive bridge financing through a new federal loan program will have to give the government the option to take an ownership stake, or provide a cash equivalent.

Finance Minister Bill Morneau says the terms will be the same for any company asking for help through the program that opens for applications today.