EDC Account Performance Security Guarantee
No fixed amount
Loan Guarantee
Description:
Account Performance Security Guarantee (APSG) is the only solution in Canada that gives your financial institution a 100% guarantee for standby letters of credit. This frees up your cash or credit line to help grow your business.
Comments on Funding:
Continuous Intake
Eligibility:
Applicants must have contractual and financial letters of guarantee, including:
bid bonds
acquisition bonds
advanced payment guarantees
performance bonds
warranty bonds
lease bonds
supplier guarantees
regulatory guarantees
To determine your eligibility, ASPG will review:
Your company’s operational and financial health.
The letter of guarantee.
Your customer’s profile and their country’s economic conditions.
Application Steps:
Applicants must:
1. Contact EDC. Get in touch with EDC to discuss opportunities that require a letter of guarantee, whether it’s for immediate needs or part of future plans.
2. Set up an APSG. EDC works with you and your financial institution to set up an APSG. Coverage can be pre-approved so you can react quickly to opportunities as they arise.
3. Grow your business. Once approved, your financial institution can use your APSG to cover your collateral requirements when issuing letters of guarantee.
Documentation Needed:
No specific documentation has been identified
Other Things to Note:
About the author
Maurice
