Type of Program:
EDC Business Credit Availability Program (BCAP) Guarantee provides support to Canadian companies, whether they sell internationally or within Canada, in order to improve their cash flow to cover business operating costs.
Canadian companies can get the cash flow they need during the COVID-19 pandemic by working with their financial institution and EDC.
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.
When It Ends:
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.
Applicants must talk to their financial institution account manager to find out if the EDC BCAP Guarantee is a good fit for their cash flow needs.
Other Things to Note:
The EDC BCAP Guarantee is a partnership between EDC and approved financial institutions across Canada.
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.
Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe’s background and how he can help your business.