Please note that the Export Development Canada (EDC) EXPORTCheck program is no longer available. While EXPORTCheck has been phased out, EDC offers a wide variety of other programs and services to assist Canadian SMEs with their export expansion activities. Please browse related EDC articles for more information.
Export Development Canada (EDC) provides insurance and financial services that include bonding products, and other small business solutions to Canadian exporters. EDC’s aim is to help small businesses do more business beyond Canada’s borders, thereby helping cultivate successful Canadian businesses while improving the country’s overall economy. Jeff Keats, Account Manager at EDC, has contributed to this blog in the past and has provided additional information that you might find useful. Jeff and members of his team have also joined Mentor Works at Canadian small business grants and loans workshops held in the Southern Ontario region.
Export Development Canada’s “EXPORTCheck” & Export Guarantee Program
By Jeff Keats, Account Manager, Export Development Canada
In my last guest blog, I talked a bit about credit insurance, and some working capital solutions. Today I’d like to focus on some solutions that make it easier for you to do business with new customers.
EXPORTCheck allow you to check out new customers quickly and easily
Find out whether EDC considers your U.S. or foreign customer insurable, for the amount of your transaction, with EXPORTCheck. This online insurability opinion also delivers some key summary credit and financial information on your customer. This way you can then decide whether you’d like to safeguard your sales with credit insurance.
Get support on your up-front costs and access additional working capital
By providing a guarantee that your financing agreements will be paid back, EDC’s Export Guarantee Program may give your bank the confidence to provide you with additional support—helping you obtain the funds necessary to increase production. This makes it easier for you to take on new contracts. Benefits of this guarantee:
- Access to working capital and term financing
- Financial capacity to complete and perform the contract
- Frees up your line of credit for day-to-day operations, and
- Boosts sales, since you may be able to take on orders you wouldn’t have been able to afford on your own.
Learn More about Export Development Canada and their Services
EDC’s regional representatives, located around the world, have developed strategic relationships with major customers in key sectors as well as an extensive network of local contacts in each regional market. Visit the Country Info page to see how Export Development Canada can support your business in specific markets and to see which companies have EDC’s financing to buy Canadian.
Learn How to Find and Access Small Business Grants and Loans
September 24th, 2013 Mentor Works and Export Development Canada (EDC) will hold another joint workshop in Markham, Ontario. Learn how to find and access Canadian small business grants and loans and how services offered through the EDC can help your business expand internationally. Watch the one minute below to learn more about the Canadian government funding portion of the workshop and be sure to sign up early in order to avoid disappointment, admission is complimentary for business owners and leaders. Also, please remember to follow us on LinkedIn.