EDC — Credit Insurance
Last Update: July 29, 2025
Canada
Credit insurance against unpaid invoices
EDC — Credit Insurance at a glance
Eligible Funding
- No Condition
Timeline
- Open Date : November 14, 2019
Financing Type
Loans and Capital investments
Eligible Industries
- All industries
Grant Providers
- Export Development Canada (EDC)
- Government of Canada
Program status
Open
Overview of the EDC — Credit Insurance program
Protect your profits and get covered for 90% of your insured losses if a customer doesn’t pay.
Financing terms and conditions
- Insure transactions up to $500,000 for short-term coverage with Select Credit Insurance.
- Covers up to 90% of insured losses if your customer does not pay.
- Financial institutions may lend against insured invoices for up to 90% of their value.
Eligible projects & activities
- Securing accounts receivable against non-payment risks for international sales.
- Obtaining insurance coverage for short-term or ongoing export transactions.
- Protecting receivables related to single international customers, specific transactions, or entire portfolios of export clients.
- Expanding business into new global markets with risk mitigation support.
Examples of admissible projects:
$ 72,000
Open a community arts center to promote local artists and cultural activities
$ 72,000
Launch an online education platform to provide accessible learning resources
$ 67,500
Upgrade technology infrastructure to enhance operational efficiency and customer service
$ 58,500
Establish a recycling program to reduce waste and promote environmental sustainability
$ 90,000
Create a mobile health clinic to improve healthcare access in remote communities
$ 40,500
Develop a local organic farmers' market to support sustainable agriculture
Eligibility criteria of the EDC — Credit Insurance program
- The company must be a Canadian exporter of any size.
- The applicant must sell goods and/or services to customers outside Canada, create goods and/or services that form part of an international supply chain, or have a plan to export in the future.
Who is eligible?
- Canadian exporters of all sizes
- Businesses selling goods or services to customers outside Canada
- Companies creating goods or services that are part of an international supply chain
- Businesses planning to export in the future
Eligible expenses
- Coverage of insured losses resulting from non-payment by international customers (up to 90% of receivables).
- Protection for single or multiple international customer transactions and entire books of receivables.
- Insurance for pre-shipment costs in case of order cancellation (for portfolio policies).
Eligible geographic areas
- Companies based in Canada.
Eligibility criteria of the EDC — Credit Insurance program
Short-term and portfolio credit insurance have different evaluation and selection criteria. Short-term coverage is ideal for new or occasional exporters with transactions up to $500,000, while portfolio credit insurance suits active exporters with consistent sales and the need for ongoing coverage.
- New or occasional exporter
- Transactions up to $500,000
- Exploring new markets
- Few customers
- Fast and simple coverage online
- Active exporter with consistent sales
- Insure an unlimited number of customers
- Flexible coverage with more policy options
- Cover pre-shipment costs in case of contract cancellation
How to apply to the EDC — Credit Insurance program
1
Determine the Appropriate Insurance Plan (Select Plan/Portfolio Credit Insurance)
Assess whether Select Credit Insurance or Portfolio Credit Insurance is more suitable for your business based on your export frequency, market exploration, and coverage needs.
2
Gather Necessary Information (Documentation)
- Collect details of the transactions you want to insure, including the amount, customer details, and any relevant contracts.
- Ensure you have financial statements or credit information if required.
3
Access Online Application Portal (Register/Login)
- Visit the insurance provider's website to access the online application portal.
- Create an account or log in if you already have an account.
4
Complete the Application Form (Fill Form)
- Fill in the necessary fields in the online application form with accurate details about your transactions and company information.
- Select the coverage details as per your determined needs from Step 1.
5
Submit Application (Submit)
- Review the information entered for accuracy.
- Submit your application through the online portal.
6
Confirmation of Submission (Receive Confirmation)
- Receive a confirmation email or message indicating that your application has been received.
- Keep this confirmation for your records and future reference.
Additional information
- Coverage includes protection for both accounts receivables and profits against customer non-payment.
- Insurance policies can be tailored to insure a single customer, multiple customers, or entire receivables portfolios.
- Trade credit insurance can help increase access to working capital by enabling financial institutions to lend against insured invoices.
- Coverage can be set up quickly online for select policies, making it suitable for new exporters and those with urgent needs.
Apply to this program
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