RBC is the latest financial institution to partner with the Business Development Bank of Canada to finance underserved entrepreneurs. Partner organizations issue debt financing through the Business Accelerator Loan Program and BDC guarantees up to 85 per cent of the loans. (The Logic)
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RBC is the latest financial institution to partner with the Business Development Bank of Canada to finance underserved entrepreneurs. Partner organizations issue debt financing through the Business Accelerator Loan Program and BDC guarantees up to 85 per cent of the loans. (The Logic)
Talking point: BDC already works with TD Bank, Meridian Credit Union, Desjardins and Vancity on the program, among others. The program, part of BDC’s Community Banking initiative launched in November, is meant to help the Crown corporation fulfill its mandate to support entrepreneurs who have historically faced challenges getting financing. That’s especially important now, at a time when entrepreneurship in Canada is waning and financing for small businesses is declining relative to overall lending, BDC said in a press release.
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