A partnership that offers even more

The Réseau des SADC et CAE and the Business Development Bank of Canada (BDC) have announced a significant increase in their assistance to small businesses in the regions. The amount of their joint loan will now be up to 400,000 $ per company, including up to 250,000$ from the BDC and up to 150,000$ from the CFDCs and BDCs.

SADC Matawinie, as well as all BDC-accredited CFDCs and BDCs, will be able to offer financing on behalf of the BDC. As part of this partnership, which aims to improve the efficiency of service to entrepreneurs, BDC will continue to rely entirely on the evaluation carried out by the CFDC or BDC.

According to Patrice Bernard, Senior Vice-President, Financing and Consulting - Quebec Region at BDC, this increase will enable the Bank to serve entrepreneurs better and faster, "By working in synergy with the CFDCs and BDCs, we can reach a greater number of businesses in the regions and benefit from the expertise and follow-up of the CFDCs and BDCs and their proximity to these businesses. We have taken a further step in strengthening our already well-established collaboration, to give entrepreneurs greater flexibility and increased access to our range of services."

According to Daniel Dumas, President of the Réseau des SADC et CAE, "this joint loan will enable us to expand our customer base, meet new needs, work with new companies - in short, considerably increase our offering. Our partnership reduces the number of steps involved in the already numerous steps taken by entrepreneurs. What's more, BDC has confidence in the expertise and results of the CFDCs and BDCs. In fact, according to a Statistics Canada study, businesses supported by a CFDC or BDC have a better survival rate.

By combining the efforts of the 20 BDC business centers in Quebec with those of the 67 CFDC and BDC offices, regional entrepreneurs benefit from improved access to various sources of financing, as well as significantly reduced loan approval times.

Ten years of partnership
This new measure is the fruit of many years of collaboration between our two organizations. Our partnership was born in 2002, out of a shared concern for our customers. The initial project, which was primarily aimed at getting to know our respective organizations, has evolved into a true alliance over the years.

In addition to the joint loan, BDC provides CFDCs and BDCs with the benefit of its expertise, including training and access to BDC Consulting services. Now recognized in the financial community as "exemplary", the results of this partnership speak for themselves: 3,429 loans disbursed and over 442 M$ invested in our communities since 2004.

About the Réseau des SADC et CAE
The Réseau des SADC et CAE brings together 57 SADCs and 10 CAEs that have been working for over 30 years to develop their communities. The network's 400 professionals and 1,350 volunteers initiate and support structuring projects in their communities, and assist entrepreneurs with their projects.

Over the past 12 years, 435 M$ have been invested in Quebec businesses by CFDCs and CBDCs. Every year, more than 10,000 entrepreneurs in Quebec are supported and financed by CFDCs and CBDCs. Two million dollars are invested by Québec CFDCs in over 1,000 collective projects every year. www.sadc-cae.ca

About BDC
The Business Development Bank of Canada, BDC, puts the entrepreneur first. With some 2,000 employees and over 100 business centers across the country, BDC provides financing, subordinate financing, venture capital, securitization and consulting services to more than 28,000 small and medium-sized businesses. Their success is crucial to the prosperity of the Canadian economy. Visit www.bdc.ca for more information.

 

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