BDIC Teams up With BDC to Strengthen Financing to NWT Businesses

News Release

Yellowknife (Northwest Territories), December 7, 2007 The Northwest Territories Business Development and Investment Corporation (BDIC) and the Business Development Bank of Canada (BDC) signed an agreement today to help businesses in the Northwest Territories (NWT) grow and compete by providing them with access to more financing options.Under the terms of the three-year partnership agreement, which takes effect immediately, the BDIC and BDC will be able to complement each other's services by jointly providing financing to NWT businesses. The agreement will give these businesses rapid access to services from both organizations. Clients who come to either the BDIC or BDC for financing can be referred to the other organization for additional funding, including specialized loans, subordinate financing and venture capital. "Joint financing increases the support available to our clients and allows us to better match the type of funding to the client's needs," says Pawan Chugh, Chief Executive Officer of the BDIC. "A better match increases the client's chances of success.""We are pleased to be working with the well-established BDIC network of representatives," says Steve Zink, BDC Vice President and Area Manager of Alberta North, Northwest Territories and Nunavut. "The partnership will enable us to extend our reach by identifying more financing needs and helping more entrepreneurs grow their businesses."Eligibility requirements for financing from BDC and the BDIC remain unchanged under the terms of the agreement. More information on joint financing opportunities is available from either the BDIC or BDC.About BDICThe BDIC is a Crown Corporation of the Government of the Northwest Territories that provides a range of financial programs and business services to help northern business succeed.About BDC
BDC is a financial institution wholly owned by the Government of Canada. BDC actively supports the development and growth of Canadian small and medium-sized businesses through its complementary financing, investment, and consulting services.
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For more information:Pauline de JongManager Policy, Accountability and CommunicationsNWT Business Development and Investment Corporation867-920-3355Contact by email
Johanne Bissonnette Manager, Media RelationsBDC 514-283-7929 Contact by email

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BDIC Teams up With BDC to Strengthen Financing to NWT Businesses

News Release

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