The BDIC lends to viable businesses that are unable to obtain financing elsewhere.
If your business requires customized or non-standard repayment terms, the BDIC can customize the prepayment schedule to meet your needs.
The BDIC offers a choice of fixed or variable interest rates. Rates are based on the credit risk involved. Fixed rates are quoted as a fixed percentage but variable rates are quoted as ‘Prime + 2%, 3% or 4%’. Variable rate loans can be converted to a fixed rate at anytime you choose; however, fixed rate loans may only be converted to a variable rate on the renewal date.
For more information on term loans, please contact your regional Industry, Tourism and Investment office or contact us at 867-767-9075.