Through the Commercial Credit Availability Program, Export Development Canada (EDC) is partnering with financial institutions to secure 80% of new operating credit and long-term cash flow loans of up to $ 6.25 million to SMEs.
This financial support is used for operating expenses and is available to exporting and non-exporting companies.
This program is now available in various banks and credit unions.
Export Development Canada (EDC) understands that these times are challenging for Canadian companies, whether you sell internationally or in Canada. They have partnered with financial institutions to assist businesses of all sizes, sectors and regions in mitigating the financial impact of COVID-19. Eligible applicants can quickly improve their cash flow through their bank or credit union to cover rent, salary and other business expenses.
The EDC BCAP Guarantee is a partnership between EDC and approved financial institutions across Canada. They are actively working with our partners to make this guarantee available to your business as soon as possible.
If your business needs access to working capital to cover operating costs as a result of COVID-19, you may be eligible for the EDC BCAP Guarantee. This is a guarantee for new operating credit lines or new term loans to support your cash flow needs.
This guarantee is for your financial institution, especially for new credit lines or new term loans to continue operating in response to COVID-19.
The size of your loan or line of credit is determined by your financial institution. EDC guarantees most of the money you borrow to your financial institution and encourages them to increase your company’s access to credit.
Speak with your advisor to find out if you qualify.