Canadian companies shipping to the U.S. may need to enhance their security programs in order to meet the requirements of 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.
Business Benefits
Maintain cash flow: The loan provides you with the ability to finance 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

Qualification Criteria
To apply for the loan, you must:
Be a registered Canadian company;
Be an Importer of Record into the United States or a Canadian Highway Carrier;
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

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.

More information
Call 1-866-283-2957, weekdays between 8 a.m. to 6 p.m. EST.