Business Credit Availability Program

In an effort to help Canadian businesses manage during these uncertain economic times, as part of Budget 2009, the federal government introduced the Business Credit Availability Program (BCAP) .

This program provides $5 billion in additional lending (loans and other forms of credit support and enhancements) to businesses with viable business models whose access to financing would otherwise be restricted, through the Export Development Corporation (EDC) and the Business Development Bank of Canada (BDC), in cooperation with private sector financial institutions such as Royal Bank of Canada.

Any creditworthy Canadian business seeking financing to support its operations may apply for credit under the Program.

Financing Programs

RBC Royal Bank^®

We offer a full line of financing solutions including term, operating, leasing, asset-based, credit cards, letters of credit, and mortgages.

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BDC Operating Line of Credit Guarantee (OLCG)

RBC Royal Bank is working in cooperation with the Business Development Bank of Canada (BDC) to provide incremental access to working capital loans through the new OLCG program.

• Available to viable Canadian based businesses who have been in operation for a minimum of 2 years and who currently have an RBC operating line of credit between $400,000 and $40,000,000
• BDC provides support for incremental loan amounts by way of a loan guarantee ranging from $50,000 to $5,000,000
• Guarantee is available for a period of 12 months and may be renewed subject to approval

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EDC Insurance, Bonding and Financing Programs

RBC Royal Bank enjoys a strong relationship with Export Development Canada (EDC), leveraging of their insurance, bonding and financing programs in support of the financing needs of our clients. BCAP initiatives include (but are not limited to) the following existing EDC programs:

Export Guarantee Program (EGP)

• Risk sharing program whereby Export Development Canada (EDC) provides a guarantee to RBC Royal Bank in support of the client’s financing requirements;
• Could be considered for various financing needs including working capital, contract specific and capital expenditures

Performance Security Guarantee (PSG)

• Guarantee covering 100% of guarantees (Standby Letters of Credit) issued by RBC Royal Bank on behalf of its clients
• Bank guarantees are to be related to contract performance (e.g. including advance and progress payments, performance, labour and material, warranty and supplier payment guarantees)

EDC's mandate and scope of activity has also been temporarily broadened for the next two years to the domestic market. EDC support on domestic activities will largely be available, through private sector financial institutions such as Royal Bank of Canada, to companies who operate in trade-related sectors such as transportation; extractive; resources; light manufacturing; information and communications technology (ICT); and infrastructure and environment. Certain infrastructure financing projects and transactions in sectors such as real estate, tourism, wholesale and retail distribution and media and entertainment will not be eligible for domestic financing (but may be eligible for support under other programs such as EDC's bonding program).

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Canada Small Business Financing Loan (CSBFL)

RBC Royal Bank is a strong supporter of Industry Canada’s CSBFL program which provides Canadian Small Businesses with access to term financing for the purchase of real estate, equipment and leasehold improvements.

• Available to Canadian businesses, including start-ups, with annual sales less then $5,000,000
• Maximum eligible loan amounts increased to $500,000 for loans made to acquire real estate ($350,000 for loans made to acquire equipment or make leasehold improvements)
• Flexible repayment terms and competitive interest rates

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