Comments on Funding:
The size of the loan or line of credit is determined by the applicant’s financial institution.
EDC provides a guarantee to the applicant’s financial institution for the majority of the money he borrows, encouraging them to increase the company’s access to credit.
EDC fees related to this guarantee may be deferred for the first six months for smaller credit amounts.
Applicant must be:
Eligibility for the EDC BCAP Guarantee is subject to additional requirements through approved financial institutions. This guarantee is for new operating lines of credit or new term loans to sustain operations in response to COVID-19. Some restrictions apply for Oil and Gas companies.
Other Things to Note:
Program checked on December 29, 2021: The onboarding period for the EDC Business Credit Availability Program (BCAP) Guarantee is ending on Dec 31, 2021.
Covid Related Measures:
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 businesses of all sizes, sectors and regions address the financial impacts of COVID-19. Qualified applicants can quickly improve their cash flow through their bank or credit union to help manage day-to-day expenses like buying inventory and paying your suppliers, or for new costs your business bears due to COVID-19.