BMO and EDC Launch Trade Expansion Lending Program to Help Canadian Businesses Grow and Compete Globally
April 02, 2021
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Doing Business Internationally
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Finance Growth
- Keywords:
- telp
To help Canadian businesses compete on a global scale, BMO clients can now take advantage of the Trade Expansion Lending Program, or TELP. The program is offered in collaboration with Export Development Canada (EDC)
.
The Trade Expansion Lending Program is designed to help export-oriented, small and medium-sized businesses more quickly access working capital to expand outside of Canada. Eligible companies include those that sell goods or services outside of Canada, supply Canadian buyers who export those goods or services, or have a signed international contract. With the TELP, eligible companies can receive up to $3 million in financing.
"Businesses today are competing on a global scale, and we're here to help give them every advantage," said Mike Bonner, Head, Canadian Business Banking, BMO Bank of Montreal. "With this program out, clients now have an opportunity to tap into financing to help them expand and grow in international markets. When we help Canadian businesses achieve success internationally, we help strengthen the whole economy."
"TELP provides Canadian companies with fast and easy access to the working capital they need to grow their business internationally, which is more important than ever," explained Robert Fosco, Vice-President, Partner Channels, Export Development Canada. "Trade is an integral part of the growth equation for Canadian companies, and this financing solution can fuel that growth. We're really excited about this new expansion of our partnership with BMO and its clients. Because ultimately, the stronger that bond, the better we can help Canadian businesses go where they need to grow."
Clients are encouraged to reach out to their BMO relationship manager to understand how TELP may benefit their business.
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To help Canadian businesses compete on a global scale, BMO clients can now take advantage of the Trade Expansion Lending Program, or TELP. The program is offered in collaboration with Export Development Canada (EDC).
The Trade Expansion Lending Program is designed to help export-oriented, small and medium-sized businesses more quickly access working capital to expand outside of Canada. Eligible companies include those that sell goods or services outside of Canada, supply Canadian buyers who export those goods or services, or have a signed international contract. With the TELP, eligible companies can receive up to $3 million in financing.
"Businesses today are competing on a global scale, and we're here to help give them every advantage," said Mike Bonner, Head, Canadian Business Banking, BMO Bank of Montreal. "With this program out, clients now have an opportunity to tap into financing to help them expand and grow in international markets. When we help Canadian businesses achieve success internationally, we help strengthen the whole economy."
"TELP provides Canadian companies with fast and easy access to the working capital they need to grow their business internationally, which is more important than ever," explained Robert Fosco, Vice-President, Partner Channels, Export Development Canada. "Trade is an integral part of the growth equation for Canadian companies, and this financing solution can fuel that growth. We're really excited about this new expansion of our partnership with BMO and its clients. Because ultimately, the stronger that bond, the better we can help Canadian businesses go where they need to grow."
Clients are encouraged to reach out to their BMO relationship manager to understand how TELP may benefit their business.
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