Act Now: New Federal Funding for Steel, Aluminum & Copper Companies

We want to bring to your attention a significant new announcement from the Government of Canada aimed at supporting businesses across the steel, aluminum, and copper sectors during ongoing trade disruptions.

The federal government, through the Business Development Bank of Canada, has launched a $1 billion loan program, alongside an additional $500 million in funding through the Regional Tariff Response Initiative (RTRI). This combined $1.5 billion package is designed to provide immediate financial relief and help companies adapt to evolving market conditions driven by ongoing U.S. tariffs.

Who Can Apply

The new BDC financing program is available to:

• Companies that manufacture or export products containing steel, aluminum, or copper
• Businesses that rely heavily on these metals in their production processes
• Firms that have been directly impacted by recent tariff measures

In addition, the RTRI funding is targeted toward small and medium-sized enterprises (SMEs) across sectors affected by tariffs, including manufacturers and supply chain partners.

Key Features of the Loan Program

• Loan amounts ranging from $2 million to $50 million
• 0% interest in the first year
• Low interest rates in years two and three
• No principal repayments required for the full three-year term

This structure is intended to provide companies with immediate liquidity while allowing time to stabilize operations and plan for long-term adjustments.

Eligibility & Application Criteria

While full program guidelines are expected to be released shortly, eligibility will focus on:

• Demonstrated impact from U.S. tariffs
• Strong operational and financial fundamentals prior to tariff disruptions
• Clear plans for maintaining operations, protecting jobs, or adapting business models

We anticipate application intake to begin soon through BDC and regional development agencies. Timelines and specific deadlines have not yet been formally announced, so early preparation will be critical.

Why This Support Is Needed

Recent tariff expansions by Donald Trump have significantly increased duties—up to 50%—on a wide range of metal products and derivatives. This has led to:

• Reduced export competitiveness
• Increased input costs
• Contract losses and production slowdowns
• Heightened uncertainty across the supply chain

This federal initiative is intended to help Canadian companies remain competitive, maintain employment, and transition toward more diversified markets.

How This Will Help Your Business

• Improve cash flow and liquidity during a period of reduced revenues
• Enable continued operations and workforce retention
• Support strategic investments in productivity and market diversification
• Provide a financial buffer while trade conditions remain uncertain

How GTA Strategies Can Help

At GTA Strategies, we are actively working on the front lines with companies across the steel, aluminum, and copper industries to ensure they are well-positioned to access this funding.

Given the expected demand and limited funding envelope, early engagement will be key to securing support.

Please let us know if you would like a more detailed briefing or assistance with specific funding applications or strategic planning