Joint financing options available immediately
YELLOWKNIFE, Dec. 7 /CNW Telbec/ - The Northwest Territories Business
Development and Investment Corporation (BDIC) and the Business Development
Bank of Canada (BDC) signed an agreement today to help businesses in the
Northwest Territories (NWT) grow and compete by providing them with access to
more financing options.
Under the terms of the three-year partnership agreement, which takes
effect immediately, the BDIC and BDC will be able to complement each other's
services by jointly providing financing to NWT businesses. The agreement will
give these businesses rapid access to services from both organizations.
Clients who come to either the BDIC or BDC for financing can be referred to
the other organization for additional funding, including specialized loans,
subordinate financing and venture capital.
"Joint financing increases the support available to our clients and
allows us to better match the type of funding to the client's needs," says
Pawan Chugh, Chief Executive Officer of the BDIC. "A better match increases
the client's chances of success."
"We are pleased to be working with the well-established BDIC network of
representatives," says Steve Zink, BDC Vice President and Area Manager of
Alberta North, Northwest Territories and Nunavut. "The partnership will enable
us to extend our reach by identifying more financing needs and helping more
entrepreneurs grow their businesses."
Eligibility requirements for financing from BDC and the BDIC remain
unchanged under the terms of the agreement. More information on joint
financing opportunities is available from either the BDIC or BDC.
The BDIC is a Crown Corporation of the Government of the Northwest
Territories that provides a range of financial programs and business services
to help northern business succeed.
BDC is a financial institution wholly owned by the Government of Canada.
BDC actively supports the development and growth of Canadian small and
medium-sized businesses through its complementary financing, investment and
For further information:
For further information: Pauline de Jong, Manager Policy, Accountability
and Communications, NWT Business Development and Investment Corporation, (867)
920-3355, Pauline_dejong@gov.nt.ca; Johanne Bissonnette, Media Relations
Manager, (514) 283-7929, firstname.lastname@example.org