Laurentian Bank’s Equipment Finance Division partners with BDC to facilitate equipment acquisition

Laurentian Bank of Canada is pleased to announce a partnership with the Business Development Bank of Canada to help manufacturers across the country acquire equipment through more flexible financing options. — Photo courtesy Laurentian Bank of Canada

Laurentian Bank of Canada (LBC) is pleased to announce a partnership with the Business Development Bank of Canada (BDC), to help manufacturers across the country acquire equipment through more flexible financing options.

For nearly two years now, Laurentian Bank's new Equipment Finance team has been offering clients a variety of financing and leasing options to businesses looking to acquire equipment. The team's extensive experience and its specialist approach have positioned Laurentian Bank as one of the industry leaders in Canada.

According to Statistics Canada, one out of four manufacturers stated that obtaining financing is critical to the growth of their business. Always looking for ways to innovate, add value and better support its clients, Laurentian Bank has partnered with BDC to craft a unique program that offers even greater financing flexibility for manufacturing customers.

This new program will allow customers to benefit from more accommodating terms and conditions when financing their next equipment acquisition:

• Finance soft costs: Such as installation expenses, legal fees and training costs, which can quickly amount to a significant up-front outlay.
• Capital moratoriums: Ranging from 6-36 months, which allows clients to reimburse only the interest due during more difficult months.
• Longer amortization periods: Reduces monthly payments to allow for more cash flow "breathing room" for clients.

This new agreement aligns perfectly with both the BDC's and the Laurentian Bank's pursuit of a strategy that promotes the growth and development of the manufacturing sector, and enables companies to increase their productivity and be more competitive in their markets.

About BDC
BDC is the only bank dedicated exclusively to entrepreneurs. With more than 100 business centres and over 32,000 clients across Canada, it offers loans, investments and advisory services. BDC's purpose is to support Canadian entrepreneurship with a focus on small and medium-sized businesses. To learn more, visit www.bdc.ca.

About Laurentian Bank
Laurentian Bank of Canada is a banking institution whose activities extend across Canada. The Bank serves one and a half million clients throughout the country and employs more than 3,700 people whose talent and dedication have made it a major player in numerous market segments. The Bank has more than $39 billion in balance sheet assets and $43 billion in assets under administration.

Laurentian Bank distinguishes itself through the excellence and simplicity of its services. The Bank caters to the needs of retail clients via its branch network and virtual offerings. The Bank has also earned a solid reputation among small and medium-sized enterprises and real estate developers thanks to its specialized teams across Canada, namely in Ontario, Québec, Alberta, British Columbia and Nova Scotia. For their part, B2B Bank is a Canadian leader in providing banking and investment products and services to financial advisors and brokers, while the expertise and effectiveness of Laurentian Bank Securities' integrated brokerage services are known nationwide.

SOURCE: Laurentian Bank of Canada