Security Compliance Loan

Canadian companies may need to enhance their security programs in order to meet the requirements of the Customs-Trade Partnership against Terrorism (C-TPAT). EDC’s Security Compliance Loan helps Canadian companies to finance the upgrades required to meet security standards, and helps them qualify to become C-TPAT-compliant. Security enhancements to property, personnel and procedures may be required.

Eligibility Criteria

To apply for the loan, you must:

• be a registered Canadian company;
• be an Importer of Record into the United States;
• have been in business for at least 3 years;
• agree to work with an EDC-approved advisory service to conduct a security gap analysis required as part of the loan application.
  

Summary

Business Benefits

• Maintain cash flow: The loan provides you with the financial capability to absorb the cost of these upgrades.
• Business growth: Compete and secure U.S. opportunities that now require suppliers to have obtained security clearance.
• Faster and Smoother Shipments: Border clearance times are reduced, and your goods have access to the FAST lanes at the Canada/U.S. border.
• Reduced risk of theft: Improved security to your place of work protects your establishment.

Coverage Details

• EDC provides a term loan for up to $150 000 to finance the costs related to becoming C-TPAT compliant.
• The loan can be for up to 85% of the specific costs identified.
• Up to $5 000 of the fees may be associated with a security gap analysis.
• Generally, loans will be unsecured with a 3-year repayment term.

Cost

Once your creditworthiness has been established, EDC will offer you the choice of a fixed or a floating rate of interest. Other than the interest which, is payable quarterly, EDC will not charge any other fee.

Ontario Contact(s):
See National Contact.