Export Development Canada (EDC)
Website: http://www.edc.ca/
Last Updated: Thursday March 08, 2007 07:26 PM
Founded in 1944 as a Crown corporation, the EDC operates as a commercial financial institution. The Corporation is governed by a board of directors composed of representatives from both the private and public sectors, and reports to the Canadian Parliament through the minister for international trade.
Here is one of their programs:
EDC provides loans to buyers of Canadian capital goods. Canadian exporters increase their competitiveness.Who Qualifies?
EDC can finance a Canadian export transaction when the following three criteria are met:
- You are a person or an organization operating a business in Canada;
- Your deal is an export and not a domestic transaction; and
- The goods and services to be exported from Canada have an acceptable level of Canadian content, usually 50 per cent, or the transaction generates other significant benefits to Canada.
What's Involved? If the transaction can be financed, EDC issues you letters (including term sheets) of increasing levels of commitment and detail as a formal expression of our interest in financing your deal. These letters are appropriate to the stage of development of your commercial transaction, and correspond to the level of detail we have about the transaction and the credit. These letters can be submitted with your proposal to your foreign buyer to show that EDC financing could be available. If the financing is for a project, you'll need to provide the following information:
- A preliminary procurement plan for the major goods and services, including a list of potential suppliers.
- A copy of the executive summary of your tender document and/or a copy of your commercial proposal indicating your contractual obligations under the project.
- A copy of the project feasibility study, including project execution plans, technical description, market study, and financial analysis.
- Pro-forma cash flow projections covering the construction period. For commercial risk project financing, the cash flow projections should also cover the repayment period of the loan.
Application form is not available online. To apply contact the EDC office nearest you at 1-866-376-3481.
