Northern Industry Expansion


Program overview

The Northern Industry Expansion program provides small and medium sized manufacturers, resource processing companies and first-line suppliers with incremental capital in the form of loans and supply chain financing to help expand their businesses to meet the demands of today’s marketplace. Northern Development has dedicated $15 million to this program, expanding the available capital pool to small and medium sized businesses throughout central and northern B.C.

Capital loan guarantees

In partnership with the Business Development Bank of Canada (BDC), the Northern Industry Expansion loan guarantee program provides up to 25% of the authorized loan provided via BDC, which significantly increases the amount of capital that companies could access to meet the demands of new contracts within Northern Development’s region. In certain cases, guarantees have also been provided to chartered banks.

Working capital guarantees through supply chain and receivables financing

The Northern Industry Expansion program also supports supply chain and receivables financing with a 25% loan guarantee. The guarantee is delivered in partnership with the National Bank of Canada, which makes it easier for small and medium sized companies to take on major contracts and expand their businesses to create more jobs. Supply chain financing provides eligible companies with the money they need to purchase materials that require an outlay of more cash than a company might have on hand after it has signed a contract. In the case of receivables financing, National Bank provides cash up front to a client that is secured by a client invoice to an end customer. This type of financing supports companies that need working capital. An example would be a large invoice that might not be paid to a small or medium sized business for 120 days after a project is completed, which would put a strain on a company’s cash flow. Receivables financing would provide working capital to the company to alleviate any short-term cash flow challenges before the invoice is paid.

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 partnering financial institutions.
  • No requirement to be a previous client with partnering financial institutions.
  • Completed requests to Northern Development are processed in a quick and timely manner to meet a company’s needs.
  • Companies can accelerate cash flow to increase their competitiveness.
  • Improves working capital for companies to help pay for and fund growth.
  • A solution for fast growing, seasonal or large one-time contracts.


To help central and northern B.C. 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, or to the National Bank of Canada (NBC) for working capital guarantees through supply chain and receivables financing.  Decisions are based on information provided by the BDC and NBC, and are made on a case by case basis.

For program enquiries, contact

Renata King
Director, Business Development
Northern Development Initiative Trust
301 – 1268 Fifth Avenue
Prince George, BC V2L 3L2
(250) 561-2525

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

National Bank of Canada (NBC)  – Vancouver
Greg Harder
Senior Manager, Western Canada
International Trade & Supply Chain, FX & Derivatives

National Bank of Canada (NBC)  – Vancouver
Edgar Groom
Manager Commercial Banking