Business Development Bank of Canada announces payment relief for clients
CALGARY, May 12, 2016 /CNW/ - The Business Development Bank of Canada (BDC) is announcing support for its clients in Alberta whose businesses have been impacted by the wildfires in Fort McMurray. The relief program will include capital and interest payment postponements for existing clients in the affected area.
"BDC has been reaching out to clients affected by the disaster to ensure they are safe and offer whatever support may be needed. We already know some clients have experienced a total loss, while others face serious challenges," says BDC President and CEO Michael Denham, who is in Calgary and Red Deer to meet local entrepreneurs, business leaders and representatives of Alberta's Chambers of Commerce.
"We recognize that our clients will need greater financial flexibility in the days and months ahead. If there is any way we can provide further assistance to help their business through this difficult period, we encourage them to contact us," Denham added.
"Our thoughts are with everyone affected by the wildfires. We are heartened by the responses of Albertans and Canadians to the citizens of Fort McMurray in these difficult times. Innovation, Science and Economic Development will continue to play a leading role in helping ensure that critical emergency telecommunications are maintained, as well as supporting Albertan entrepreneurs." says the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
Support measures include an immediate 3-month postponement of principal and interest for clients located in Fort McMurray and the Wood Buffalo region. BDC also stands ready to support other entrepreneurs affected with our existing lending and advisory services.
The relief assistance builds on a $500-million program announced last November to help entrepreneurs dealing with the impact of low oil prices. Of this amount, $200 million has already been provided to small and medium-sized businesses.
BDC has also donated $25,000 to the Red Cross in support of the emergency efforts.
Clients can contact BDC's call centre for more details at 1‑877‑232‑2269 or visit www.bdc.ca.
BDC is the only bank dedicated exclusively to entrepreneurs. With more than 100 business centres and over 32,000 clients across Canada, it offers loans, investments and advisory services. BDC's purpose is to support Canadian entrepreneurship with a focus on small and medium-sized businesses. To learn more, visit www.bdc.ca.
SOURCE Business Development Bank of Canada
For further information: Maria Constantinescu, BDC, [email protected], 1-844-625-8321