Toronto, July 27, 2020 - Elevate Export Finance Corp. (the “company”) announces a new CAD$100 MM loan agreement with ICICI Bank.
ICICI Bank has agreed to provide a new loan (the “New Loan”) in the principal amount of up to CAD$100 million. The new loan provides Elevate Export Finance Corp. with capital to expand its loan book, supporting even more Canadian Exporters with Export Development Corp back loans to international buyers of Canadian Exporters.
Chairman, Duncan Munn said, ‘this is an important milestone in the growth of the company, and especially important during a time when many have moved to a risk-off position. Securing this loan speaks to the confidence and robustness that the market has in our business model.’
For Elevate Export Finance Corp, a service delivery provider for Export Development Canada, this renewed agreement is an important moment in the continued growth of the company. Amongst other things, it allows Elevate to continue its support of Canadian Exporters as Canada navigates its way through the global pandemic.
Elevate Export Finance Corp provides buyer financing loans for up to US$10M per sale transaction and supports Canadian exporters in a diverse array of global markets.