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EDC’S $750 million support to the oil and gas sector

NOTE: This opportunity has expired or is an event which has already taken place.

Available to small and medium-sized Canadian companies in the Oil & Gas is sector, to help them with financial solutions during 2016 and 2017. This amount is additional to existing support provided by EDC to the Oil & Gas Sector.

WHO BENEFITS?

Well-managed existing exporters or companies with contracts on hand and need to:

  • Increase company productivity
  • Diversify product offerings to new customers/industries
  • Implement environmentally sustainable practices

WHAT IS THE CRITERIA?

Small and Medium-sized Companies:

  • That have strong, experienced management
  • A clearly documented survival plan. The survival plan should include a two year, monthly cash flow budget
  • Evidence of banking support. Companies that maintain bank support are better positioned to succeed with EDC. It is important to note that EDC is precluded from offering straight refinancing support
  • Companies with a signed, draft or final export contract who need working capital support to execute
  • EDC support is provided on commercial terms and is not a grant or subsidy

WHAT DO I NEED TO APPLY?

Information requirements – need to submit all four below

  • Senior management biographies highlighting experience in the sector.
  • Business plan. Where available, include reports prepared by 3rd parties on company specific survivability or opportunities.
  • Financial Statements – Three years of audited financial statement, if available and one year of projections, including cash budget with assumptions.
  • Capital structure with discussion of recent shareholder support.

NOTE: Banks can apply on behalf of their Customers.

HOW DO I CONTACT EDC?

Please send an e-mail to contactwest@edc.ca with your name, brief description of company, telephone number and best time to reach you. A representative from an EDC office in Western Canada will respond within 24 hours of receipt of your message.

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