Get the credit you need to cover payroll and other operating costs 

Export Development Canada (EDC) understands that these are challenging times for Canadian companies, whether you sell internationally or within Canada. We've partnered with financial institutions to help your business address the impacts of COVID-19. Qualified applicants can access up to $6.25 million in credit through their bank or credit union to cover rent, payroll and operating costs.

    

Access up to $6.25 million in credit with the EDC BCAP Guarantee

• This guarantee to your financial institution is specifically for new operating lines of credit or new term loans to sustain operations in response to COVID-19.

• The amount of credit for qualified businesses supported by the EDC BCAP Guarantee cannot exceed C$6.25 million.

• EDC provides an 80% guarantee to your financial institution on the money you borrow, encouraging them to increase your company's access to credit. Your financial institution takes on the remaining 20% of the risk if you can't repay it.

• Our goal is to work with your financial institution to ensure you have quick access to the credit you need to cover rent, payroll and operational costs.

• EDC fees related to this guarantee will be deferred for the first six months, giving some short-term relief to your business.

Talk to your financial institution account manager for more information on whether the EDC BCAP Guarantee is a good fit for your cash flow needs.

• Your business does not need to have export sales to qualify for this program.

• Eligibility for the EDC BCAP Guarantee is subject to additional requirements through approved financial institutions.

• The following are not supported by the EDC BCAP Guarantee:

- Government organizations or bodies or entities owned by a government organization or body;

- Unions, charitable, religious or fraternal organizations or entities owned by such organizations except registered T2 or T3010 corporations that generate a portion of their revenue from the sales of goods or services (so that business operations of those entities remain eligible);

- Entities owned by any Federal Member of Parliament or Senator; and

- Entities that promote violence, incite hatred or discriminate on the basis of sex, gender identity or expression, sexual orientation, colour, race, ethnic or national origin, religion, age or mental or physical disability, contrary to applicable laws.

• Proceeds from your loan must be used to finance operations and cannot be used to repay or refinance existing debt.


 

Talk to your financial institution about the EDC BCAP Guarantee

Contact your financial institution to find out if they offer the EDC BCAP Guarantee. They can tell you if this solution is a good fit for your business and how to apply.

To help with your conversation, download this brochure.



EDC Trade Advisor
EDC Trade Advisor