EDC BCAP Is Now Available
EXPORT DEVELOPMENT CANADA BUSINESS CREDIT AVAILABILITY PROGRAM
The physical and financial health of our members is our top priority, and we’re dedicated to supporting local businesses through these challenging times.
Business members can now apply for financial support through the Export Development Canada (EDC) Business Credit Availability Program (BCAP). The EDC BCAP provides eligible businesses with a loan of up to $6.25 million to support short-term liquidity obligations.
For more information on the EDC BCAP, click here.
HOW DO I QUALIFY?
The EDC BCAP is available to Mountain View Financial members who have a primary Business Operating Account and are in good standing. Unlike other EDC programs, members operating in almost any industry may qualify, subject to credit eligibility.
Proceeds must be used to finance operations in response to COVID-19 challenges (and may not be used for purposes including, but not limited to, repayment or refinancing of debt, dividend payout, shareholder loans, bonuses, stock buybacks, option issuance, or increase to executive compensation).
HOW DO I APPLY?
To apply for the EDC BCAP, please contact your Account Manager.
FOR A SPEEDY EXPERIENCE, PLEASE HAVE THE FOLLOWING INFORMATION ON HAND:
A copy of your business plan
A brief statement about your business, its success and potential for growth if it’s not covered in your business plan or if your business plan is unavailable
2018 and 2019 financial statements, as well as the first quarter of 2020
Personal net worth statements and income tax returns for all owners
Forcasts and income and expense projections for the next three years
A brief statement about the negative impact COVID-19 has had on your company’s liquidity. Please include:
o The value of the loan you’re seeking
o How long you will need the loan
o What repayment terms you’re looking for
GET IN TOUCH
Our team of advisors is here to guide you through this challenging time. Please contact your Account Manager for more details and to apply.
The Legal Stuff:
*Terms and conditions apply. Loan qualification is required. Speak to your Account Manager for more details.