06 Feb Spotlight on EDC
Is your business growing outside of Canada?
Are you adding headcount every other month?
Export Development Canada wants to be your growth partner so that you can focus on landing that next big opportunity. If you are looking to go, grow and succeed internationally – we would love to hear from you!
In 2016, we financed a number of BC Tech members directly in support of their export contracts.
Rainforest Automation provides residential power optimization solutions by transforming consumer IoT devices into operational resources for energy providers.
“Rainforest needed a financial partner that understood our company and could react to our immediate needs,” said Chris Tumpach, President of Rainforest Automation. “EDC came to the table with a straightforward path to financing that allowed us to meet our customer commitments and focus on expanding our rapidly growing solar energy and utility business.”
EDC financing terms are flexible and cater to the needs of high-growth companies. The term loans support up to 100% of contract costs and most importantly, have no prepayment penalty when you are ready to transition into a banking relationship.
“Optigo needed access to capital to fund our international growth and EDC came through in a big way,” said Dan Ronald, Co-Founder of Optigo Networks. “We were entering new markets in Germany and Australia while growing our presence in Mexico. EDC provided the financing we needed to support our expansion in a very rapid time frame. EDC funding fills a critical gap in the Canadian market between equity financing and the big banks.”
Optigo operates in the smart building market, which is expecting big growth over the next five years. Rainforest, on the other hand, recently landed a contract that will see their solutions being deployed across the US by a major player in the solar energy industry. It is exciting times for BC tech companies. And supporting innovations from BC to the rest of the world is what we are all about.
EDCis here for Canadian companies to go, grow, and succeed internationally.
To learn more about EDC, click here.
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