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Export Development Canada's application


How to apply


EDC supports Canadian companies that are focused on external markets. To qualify for financial assistance from EDS, the company must meet the above criteria. In addition, according to publicly available information, start-up companies and start-ups focused on exporting can also expect to receive support from EDC.

Application details

The duration of application review and approval may depend on the project. However, on average, it is possible to receive the decision within ten days, and the deal can be completed within 4-8 weeks.

In some cases, it may take longer. For more information about the process of reviewing your application, please contact EDS.

To apply for financing, one must choose an option that meets the business's financial needs and contact EDC for details and a list of required documents.

Financing requests can be made through the "Send a Question" link or by calling 1-800-229-0575.

The online request includes a brief description of your business, product type, countries in which you plan to operate in the next two years, sales, market experience, and company contact information. Interest rates and other conditions will be provided individually upon request.


How long does it take to get approved by EDC?

Approval may take about ten days, and project completion 4-8 weeks. The period may be longer if the project's complexity requires more time. Specific information about your project should be obtained from EDC.

How trustworthy is EDC?

Since EDC is a state-owned enterprise, its reliability and stability are guaranteed by the state. EDC will remain a strong player if the state supports the line of facilitating export transactions by Canadian companies. Its guarantees would continue to help obtain pre-approvals and loans from reputable lenders. Canadian companies could "turn" to EDC with their problems getting money from foreign customers.

Does EDC verify income?

EDC uses its internal procedure to verify that the customer can repay the loan. Therefore, information on the applicant's business income is required in the application. If you are interested in further details of the procedure, you should contact EDC in this regard.

Does EDC hurt your credit score?

There is no information in the open sources to which credit bureau information on payments is transmitted. At the same time, it is known that EDC may initiate collection in case of problems with repayment.

What to pay attention to when applying for a loan from Export Development Canada

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Export Development Canada from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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