TORONTO, June 19, 2020 /CNW/ - Scotiabank announced
today the launch of the Business Development Bank of Canada (BDC) Mid-Market Financing Program, a
new relief measure to provide liquidity support to medium-sized
Canadian businesses facing economic hardship as a result of
COVID-19. Qualifying Scotiabank or Roynat Capital Business Banking
clients with annual sales over $100
Million and directly impacted by COVID-19, can apply for a
term loan between $12.5 and
$60 Million as part of this program.
The BDC Mid-Market Financing Program will bring more financing
options to eligible businesses whose credit needs exceed what is
already available through the Government of Canada's Business Credit Availability Program
(BCAP).
"Thriving businesses are critical to Canada's economic recovery, and Scotiabank is
committed to being there for Canadian businesses when they need it
most," said Dan Rees, Group Head of
Canadian Banking for Scotiabank. "We're proud to help even more
businesses stay on track through the expansion of government
programs, reinforcing our commitment to supporting our clients
through this challenging time."
For more details on eligibility criteria, clients are encouraged
to contact their Scotiabank Business Banking or Roynat Relationship
Manager.
Scotiabank stands behind Canadian
businesses
Scotiabank was recently rated the leading bank in
client satisfaction according to the Bond COVID-19 Canadian Client
Impact Study.
Relief measures in support of eligible Canadian Business Banking
and Small Business clients affected by COVID-19 include:
- Deferral of payment on small business credit cards and credit
lines;
- Payment deferral on business loans;
- Online application for the Canada Emergency Business Account (CEBA);
- Online application for the Canada Emergency Wage Subsidy (CEWS);
- Support through the Business Development Bank of Canada (BDC) financial relief program;
- Support through the Export Development Canada (EDC) financial
relief program;
- Continued access to Small Business Advisors and Business
Banking Relationship Managers for customized advice.
For more information on all of our relief programs for
individuals and businesses, please visit Scotiabank.com.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our
purpose: "for every future," we help our customers, their
families and their communities achieve success through a broad
range of advice, products and services, including personal and
commercial banking, wealth management and private banking,
corporate and investment banking, and capital markets. With a team
of approximately 97,000 employees and assets of over
$1.2 trillion (as at April
30, 2020), Scotiabank trades on the Toronto Stock
Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).
For more information, please
visit http://www.scotiabank.com and follow us on Twitter
@ScotiabankViews.
SOURCE Scotiabank