Export Development Canada (EDC) Business Credit Availability Program (BCAP)
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 relief 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 offer short term liquidity.
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 as an existing borrower. There are no exporting requirements.
Proceeds must be used to finance operations in response to COVID-19 challenges (not for 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
- Forecasts 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:
- The value of the loan you’re seeking
- How long will you need the loan
- What repayment terms you’re looking for
Get in touch
Our team of advisors is here to guide you through this challenging time. you can call your Account Manager.
The Legal Stuff:
Terms and conditions apply. Loan qualification is required. Speak to your Account Manager for more details.