• 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.