BDC to put $280 mln more to work in Atlantic Canada SMEs

The Business Development Bank of Canada (BDC) announced a $280 million financing package to support small and medium-sized businesses in Atlantic provinces. The money will be deployed over the next two years to companies pursuing growth opportunities via acquisitions, ownership changes and export strategies in such industries as information technology, agri-food, ocean technology and tourism. BDC said the amount represents a $100 million increase in its normal lending volume for these industries. Last week, the bank announced $1.8 billion in fresh funding for its mezzanine and minority equity investment arm.

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