It only took 9 months for Elevate Export Finance to reach a very impressive milestone; USD $50 million dollars of export transactions processed in support of Canadian companies.
What is more impressive about this number is that Elevate’s product occupies the small ticket sales space in the export markets. Working with medium and small manufacturers of equipment around Canada they finance foreign companies buying machines and systems that typically sell above $250,000.
Elevate’s Founder and Chair, Duncan Munn, described reaching this milestone as follows: “This is all about supporting local Canadian businesses on the global stage. Our work is really critical in that regard. I am really proud of the Elevate team, whose passion for service and whose global trade knowledge is second to none. We’re the only trade finance company that we know of who can turn files in an industry leading 24 hours or less. We are so humbled by the huge response we are getting in the market.”
The type of transactions Elevate has participated in is as diverse as the fabric of our country. Whereas it is the export of equipment to produce vinyl records (yes, they are making a huge come back worldwide), equipment to inject preforms or closures, a full line that will produce pipes to transport potable water to cities or a backfill plant for mines.
But, working on these types of transactions in today’s ever-changing world requires working alongside not only the Canadian companies, but also their distributors and brokers, Trade Commissioners, many financial institutions as well as the great teams at Export Development Canada, Canada’s national export credit agency, who stands behind Elevate’s product and is one of its best partners.
Molding all these participants to a transaction together requires a very experienced and dedicated group, and Elevate has a fantastic one, led by its President, Ed Walsh who had to say this about the group: “This is just the start. With an increased impulse toward protectionism globally it is more important than ever that Canadian companies are given every chance they can to succeed on the global stage. This is where our financing tool comes in.”
So, what next? Opportunities are growing, much more than anticipated, due in large part to Canadian companies entering new markets in response to current instability in the traditional market channels or in anticipation of further changes. If you are one of these companies, Francisco Garcia, Elevate’s EVP has these words for you: “We have the capacity and liquidity to process more applications. We’ve created a business model intended to help Canadian exporters diversify and expand beyond their traditional bases. Whether you’re looking for country specific expertise or need help closing the deal, we’re a quick phone call away. We have the relationships, acumen and experience to help Canadian exporters expand internationally in a constantly changing marketplace.”
Elevate, a Canadian-based lender has partnered with Export Development Canada (EDC) and financial institutions to provide the customers of Canadian small and medium-sized businesses with structured finance solutions. We lend to foreign buyers of Canadian manufacturers to help support Canadian export success.
For More Information Contact
Ed Walsh, President, firstname.lastname@example.org 416-735-9480
Francisco Garcia, SVP and Chief BDO, email@example.com 604-375-7146