National Bank announces a partnership with Export Development Canada
(EDC) to offer an express export guarantee for small and medium-sized
enterprises (SMEs). The Bank is the first financial institution in
Canada to offer this new express export guarantee program.
Thanks to its simplified qualification process, the program makes it
possible for exporters to obtain a loan guaranteed by EDC twice as
quickly as before. Therefore, this simple and efficient process
makes export financing more accessible.
The guarantee can give exporters greater borrowing capacity. It
grants access to additional financing by way of working capital,
competitive repayment conditions and better risk protection when doing
This offer is aligned with National Bank's commitment to supporting
small and medium-sized enterprises in Canada with their export
activities. It is available to businesses with financing needs up to
- The qualification process becomes simple and efficient.
Applications are processed twice as quickly as before.
- With an export guarantee, SMEs can increase their capacity
to borrow from the Bank.
- The guarantee is
available to small and medium-sized enterprises with financing needs
up to $1.25 million.
- National Bank is the
first financial institution in Canada to offer the new express
"At National Bank,
we're constantly improving our service offering so we can help
businesses achieve their ambitions and power their ideas. That is why
we are pleased to collaborate with EDC on a solution that streamlines
access to export financing," said Mario Desautels, Senior
Vice-President – Strategy, Solutions and Processes for Commercial
Banking at National Bank. "We're confident that our clients will
appreciate how quickly their financing applications are processed."
"EDC’s market penetration is marginal in the small business
segment. It is critical to adjust to market realities to provide a
useful service to financial institutions and to large and small
exporters," said Justine Hendricks – Vice-President, Working
Capital Solutions at EDC.
About National Bank of Canada
With $262 billion in
assets as at October 31, 2018,
National Bank of Canada
, together with its subsidiaries, forms one of Canada's leading
integrated financial groups. It has more than 23,000 employees in
knowledge-intensive positions and has been recognized numerous times
as a top employer and for its commitment to diversity. Its
securities are listed on the Toronto Stock Exchange (TSX: NA).
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