When best friends Jen Kelly and Becca Perren decided to start a business during their maternity leaves, success came quickly.
When the two launched Pehr Designs in 2011, their focus was clear from the outset: to create a brand focused on classically simple yet modern accessories for the home.
But they soon discovered with expanding product lines and expanding families, financing their rapid business growth was becoming more complicated.
How EDC helped
When Pehr needed financing for its rapid growth, talking to EDC helped them to figure out their options.
“We learned how using Credit Insurance could help us get more financing from the bank, as well as ensure we always got paid,” says Kelly. “It’s great to have someone guide you through the options.”
Pehr is now an internationally recognized lifestyle brand with an ever-growing mix of products for the home, focused on the growing collection of children’s décor and accessories.
It’s okay to learn as you go. Talk to other business owners, and use all resources available to you, such as Export Development Canada.
EDC service used
Credit insurance is a solution that’s ideal if you’re looking to insure your business against non-payment.
EDC Portfolio Credit Insurance covers up to 90% of losses should your customer not pay, due to circumstances such as bankruptcy, payment default, market hostilities or currency conversion or transfer.