BDC offers financing for businesses impacted by declining oil prices

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The Business Development Bank of Canada has announced today that it has earmarked $500 million in additional financing for Canadian small and medium employers impacted by the decline in oil prices.

In this case, the target firms would primarily be in the service industry and the BDC, a Crown Corporation, says its strategy is intended to help promising companies with projects aimed at:

  • diversifying their business
  • increasing their operational and environmental efficiency
  • improving financial management
  • and purchasing new technology and equipment

Michael Denham was appointed BDC President and CEO by the Harper Government early last summer.

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He went on to say, the next Edmonton seminar will likely be early next month and there will be a subsequent BDC release on time and place.

He also took time to underscore his sense of optimism for the future.

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