Comments on Funding:
Funding is up to 90% to cover a significant portion of Purchase Order(PO) amount and starts at:
- $10,000 for businesses that have been in operation between 12 and 24 months and
- $100,000 for businesses that have been in operation for more than 24 months.
- up to 18 months repayment period;
- interest-only payments and one balloon payment at the end of the term;
- loan disbursement to the applicant so he can pay suppliers directly. No factoring on the loan.
- money disbursed in Canadian or U.S. funds to avoid dealing with currency exchange fluctuations.
Other Things to Note:
For domestic PO financing, BDC financing only. For international PO financing, partnership with EDC could apply. EDC (Export Development Canada) and BDC are collaborating to support business growth through the EDC-BDC International Purchase Order financing partnership, which provides applicants with vital capital to maximize opportunities in international markets.