Export Development Canada Trade Recovery Guarantee Program
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Working capital for your exporting business
The Export Development Canada (EDC) Trade Recovery Guarantee Program (TRG) helps qualifying Canadian businesses with new loans of up to $6.25 million for critical business continuity expenses. The program is available through ATB for eligible mid- and large-sized exporting ATB business clients experiencing economic challenges due to ongoing market effects. Please note that it cannot be used to refinance existing debt.
Get help with short-term liquidity.
Over $6 million and up to five years
The EDC TRG provides eligible businesses with access to loans of up to $6.25 million, with up to five years to repay.
Backed by two financial institutions
ATB is able to provide access to additional capital and help more Alberta businesses with EDC’s assistance.
Key details of the program
|Amount||Term loan (single draw only) of up to $6.25 million, or new revolving line of credit between $500,000 to $6.25 million.|
|EDC guarantee||EDC guarantees 80% of the loan value, renewed annually. Please note this comes with an annual guarantee fee of 1.8% of the authorized loan limit.|
|Interest rate||Fixed or variable, based on ATB's Prime rate.|
|Term||Variable rate loans and lines of credit have a one-year term. Fixed rate loans and lines of credit have a term of one to five years.|
|Repayment||Repayable in full at the end of the term. Payment frequency and early repayment are both discretionary.|
Frequently asked questions
A borrower must be an ATB client with a viable Canadian exporting business (including agriculture). ATB clients are required to complete the EDC TRG online eligibility form, which includes a self declaration that your business does not operate in a restricted category and is an exporter.
Eligible clients include direct exporters, indirect exporters (companies that support the supply chain of Canadian exporters or sell to wholesalers who then in turn, sell those goods and services outside of Canada), and future exporters (companies that have their first contract outside of Canada or have a defined export plan).
The deadline is June 30, 2023.
Working capital acquired through the program must be used for operations such as rent, payroll, scheduled debt obligations or other operational costs. It cannot be used to refinance other debt, pay dividends, or increase shareholder compensation.
Not quite. TRG is for Canadian export businesses while the BCAP solution was open to all eligible Canadian businesses, regardless of export sales. The BCAP solution is also no longer available.
Please reach out to your ATB relationship manager or visit EDC’s website for Trade Recovery Guarantee.
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