The Business Development Bank of Canada rolled out the government’s loan package for the softwood lumber industry in October.

Canada’s banks have told Natural Resources Minister Tim Hodgson that loans for struggling softwood lumber companies will roll out in the coming weeks, but cautioned that gaps in Ottawa’s support program could leave some out of the running for tariff assistance.

Mr. Hodgson met with senior banking executives on Monday evening in a push to accelerate the federal government’s $700-million loan package for the softwood lumber companies, according to two sources. The softwood lumber industry has warned that, without faster financial support in the face of an intensifying U.S. trade war, businesses could start closing.

Prime Minister Mark Carney pledged support for t

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