EDC — Credit Insurance
grant_single|update January 24, 2025
Canada
Credit insurance against unpaid invoices
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDate November 14, 2019
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Export Development Canada (EDC)
- Government of Canada
grant_single|status
grant_card_status|open
grant_single_labels|preview
Protect your profits and get covered for 90% of your insured losses if a customer doesn’t pay.
grant_single_labels|projects
grant_single|admissibleProjectsExample
$ 72,000
Open a community arts center to promote local artists and cultural activities
$ 67,500
Upgrade technology infrastructure to enhance operational efficiency and customer service
$ 90,000
Create a mobile health clinic to improve healthcare access in remote communities
$ 58,500
Establish a recycling program to reduce waste and promote environmental sustainability
$ 72,000
Launch an online education platform to provide accessible learning resources
$ 40,500
Develop a local organic farmers' market to support sustainable agriculture
grant_single_labels|admissibility
Short-term credit insurance is ideal for new or occasional exporters who are exploring new markets and relationships with a few customers. It offers fast and simple coverage exclusively online for transactions up to $500,000.
- You're a new or occasional exporter
- You're exploring new markets and relationships with a few customers
- You need fast and simple coverage exclusively online
- You need to insure transactions up to $500,000
grant_eligibility_criteria|who_can_apply
Companies that can apply for this grant are exporters. The grant offers two types of credit insurance: 1. Select Credit Insurance: Ideal for new or occasional exporters who need short-term coverage and want to insure transactions up to $500,000. 2. Portfolio Credit Insurance: Designed for active exporters with consistent sales who want ongoing coverage and the ability to insure an unlimited number of customers.
grant_single_labels|criteria
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
grant_single_labels|apply
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