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Business Credit Availability Program

Announced in Budget 2009, this program will improve access to financing for Canadian businesses during this period of economic uncertainty through enhanced cooperation between Laurentian Bank and the financial Crown corporations. Through this program, Export Development Canada (EDC) and Business development Bank of Canada (BDC) will provide at least $5 billion in additional loans and other forms of credit support and enhancement at market rates to businesses with viable business models whose access to financing would otherwise be restricted.

With this program the Laurentian Bank commit to:

  • Working with the financial Crown corporations to find solutions for creditworthy business clients who would otherwise have insufficient access to credit.
  • Ensuring that the extension of credit by financial Crown corporations is incremental for Canadian businesses and does not displace or substitute for private credit in aggregate.
  • The Government will monitor the program with participating lenders to ensure it is meeting its objectives