- To qualify as either a direct, indirect, or future exporter. See EDC exporter criteria here. Borrowers need not be direct exporters – businesses that form an integral part of the supply chain of a direct exporter may also qualify.
- To complete EDC’s pre-screening questionnaire.
- To be a Canadian Corporation.
General Eligibility
To be eligible for an Accord TRG facility, your business needs:
How it Works
Qualified applicants can access to up to $6.25 million for working capital and acquisition of capital assets through Accord. Applicants may also leverage existing free and clear assets for additional working capital.
Important program criteria include the following:
- Authorized uses of loan proceeds include acquisition of inventory, bridging differences between accounts receivable and accounts payable, acquisition of new equipment (at up to 100% of dealer invoice cost including taxes), and to assist with business operating costs such as payroll, rent, and other overheads.
- Loan proceeds may be used to support existing regularly scheduled debt service (loans, equipment leases, mortgage payments, etc.).
- Loan proceeds may not be used to reduce, repay, or refinance existing indebtedness.
- Loan proceeds may not be used to pay staff or management bonuses, to increase executive compensation, to repay shareholder or related party loans, or to pay dividends.
Benefits you will enjoy as part of this joint Accord and EDC Program:
- The 1.8% EDC Guarantee fee can be deferred for 6 months.
- No EDC Set up fees.
- Businesses having a loan under the previously-offered BCAP (Business Credit Availability Program) Guarantee can also avail themselves of a TRG facility.
- The program runs through December 31st 2022, and credit facilities are available for terms of up to 60 months.
Streamlined Process for Loans Up to $1MM
Applicants requiring up to $1MM are encouraged to consider our AccordExpress TRG product. AccordExpress offers a streamlined online application process. For details on this program visit our information page here
Apply for an Accord TRG loan up to $6.25 million
Need more info before taking this step? Call us now to speak with one of our financing experts: +1 800.967.0015
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Frequently Asked Questions
You get Accord’s almost 45 years of experience in financing, as well as EDC renowned global expertise. The two entities make it easy for your business to access up to $6.25 million to use towards operational costs. The 1.8% EDC TRG fee can be deferred for 6 months and there are no EDC set up fees.
Direct Exporters: Companies that earn revenue from a customer outside of Canada.
Indirect Exporters: Companies that support the supply chain of Canadian exporters or sell to a wholesaler who in turn sells those goods or services outside of Canada.
Future Direct Exporters: Companies taking on their first contract outside of Canada or have a defined export plan.
A lot of exporters are still suffering the effects of the pandemic and would use the funds for payroll, utilities, and other operational costs.
If the business is not an exporter as defined above. The business cannot use the funds to refinance or repay debt.
Yes, Accord provides financing outside of the Accord TRG program up to $20MM.
This program was specifically created for you as a direct, indirect or future exporter to simplify access to the financing your business needs for operating costs. Accord and EDC longstanding relationship can benefit you.
You will need to fill out short EDC questionnaires based on your type of business, which includes standard business info. With Accord, the process and documents depend on the type of loan your business needs, and a representative will work with you through the application process.
Yes, Accord offers AccordExpress TRG for small businesses. Contact us to learn more about AccordExpress TRG: +1 844-982-3010
For TRG, the applicant does not have to be negatively affected by the COVID-19 pandemic. The Accord TRG applicant also must be an exporter.