Northern Industry Expansion Program
Program Overview
The Northern Industry Expansion Program provides small and medium sized manufacturers, resource processing companies, and their first line suppliers with incremental capital to grow in today's marketplace. The Northern Industry Expansion Program provides a guarantee of up to 25% of the authorized loan provided by the Business Development Bank of Canada (BDC), significantly increasing the amount of capital companies can access in the Northern Development Initiative Trust region. A total of $15 million been dedicated to this program by Northern Development. This loan guarantee program expands the capital pool available to small businesses in the region
Benefits for Business:
- Supports viable growth projects that are lacking sufficient tangible security to secure the necessary level of financing
- Simple single point of contact with the Business Development Bank of Canada (BDC)
- No requirement to be a previous client of the BDC
- Complete requests to Northern Development from the BDC are processed within five working days
- Ability to partner with multiple financial institutions while providing a loan guarantee to the BDC
Objective
To help central and northern BC manufacturers, processors, and their suppliers grow, expand and refine their businesses to take advantage of new markets, new demand and a growing economy.
Apply for Financing
Businesses with commercially viable projects can apply to the Business Development Bank of Canada (BDC) for financing and request the loan guarantee. Decisions are based on information provided by the BDC, and are made on a case by case basis.
For program enquiries, contact
Renata King
Regional Director, Business Development
Northern Development Initiative Trust
300 - 1268 Fifth Avenue
Prince George, BC V2L 3L2
(250) 561-2525
email: renata@northerndevelopment.bc.ca
Business Development Bank of Canada (BDC) - Prince George
177 Victoria Street, Suite 150
Prince George, BC V2L 5R8
(250) 561-5323
Business Development Bank of Canada (BDC) - Terrace
3233 Emerson Street
Terrace, BC V8G 5L2
(250) 615-5300
Business Development Bank of Canada (BDC) - Fort St. John
10230 – 100th Street, Suite 7
Fort St. John, BC V1J 3Y9
(250) 787-0622
Business Development Bank of Canada (BDC) - Kamloops
205 Victoria Street,
Kamloops, BC V2C 2A1
(250) 851-4900
