Hi All,
I am looking to submit an offer on a Canadian based business. However, I live in the US. Does anyone know what the financing options would be for a business like this? If it helps they are asking $7M USD and $2M EBITDA.
US Citizen buying Canadian business
by a searcher from University of Nebraska-Lincoln - College of Business Administration
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There is no SBA equivalent in Canada so your best bet is financing through one of the commercial lending divisions of the big 6 banks in Canada: RBC, TD, CIBC, National Bank, BMO, Scotiabank.
There are some smaller regional banks like Laurentian, CWB (Canadian Western Bank) that may make sense depending on the deal.
As others have mentioned, EDC and BDC are government-owned banks that are specifically catered towards Canadian businesses and entrepreneurs. They have some good programs but will need to check eligibility.