What are the advantages of EDC Loan Corporations loans?
Borrowers benefit with low, fixed interest rates and low down payment requirements. Typical bank loans have floating rates, or do not fix the interest rates beyond five years. EDC loans are fixed for the life of the loan up to 10 years for equipment and 20 years for real estate. Also, conventional business loans can require 25% or more equity, versus only 10% for most of EDC Loan Corporation’s loan programs. In summary, the borrower puts less down and enjoys lower monthly payments, which combine to provide additional critical cash flow available for growing small businesses. And, EDC Loan Corporation programs allow borrowers to maintain a lending relationship with their bank,which is key to successfully growing a small business.
