MONTREAL, March 16, 2020—The COVID-19 situation is constantly evolving, impacting our lives and the economy. The most important thing right now for all of us is to stay healthy.
This is also a time to act. We know that the current situation is putting pressure on all business owners, your supply chains, your cashflow and your people.
So here is what we are doing to help you and your business get through this:
- With Export Development Canada (EDC), we will deliver on the Government’s announcement of a $10 billion business credit availability program to help Canadian businesses through the COVID-19 period. This program will allow entrepreneurs to access liquidity and keep exporting during these difficult times. We will communicate details as they become available.
- We are closely monitoring the situation and looking at all potential scenarios and we will scale our support accordingly.
- BDC will continue to offer to entrepreneurs flexible, patient financing for their business needs, such as working capital loans, equipment loans or purchase order financing.
- Business owners can also rely on our Advisory Services experts for support to review your financial management and operations.
BDC accepts more risk than private-sector lenders and offers more flexibility on repayment terms. We will also continue to work with other financial institutions to ensure we complement their services. They too have made a commitment to support businesses through these difficult times.
The federal government has also indicated that a further stimulus package for Canadians will be released this week.
It is not the first time BDC steps in and acts as a shock-absorber for entrepreneurs. We did it during the financial crisis in 2008-2009; we did it when the oil prices collapsed in 2016, and we will do it again.
While you focus on the health of your loved ones and of your employees, the health of your business remains our top priority. As Canada’s bank for entrepreneurs, our focus is helping your business not only get through this, but also to emerge stronger.
For more information, visit bdc.ca/coronavirus. We will be updating the page regularly with tools, financial solutions and additional measures to help you through this.
Talk to us
- While our business centres are temporarily closed to help reduce the risk of transmission, all BDC employees are mobilized virtually to support you. You can reach us at email@example.com and 1-877-232-2269.
- We are currently receiving a high volume of calls and requests. We are working to increase capacity and we thank you for your understanding.
- If you are already a BDC client, you can access your Client Space account (via bdc.ca) to make a financing request quickly and communicate with your account manager.