Colton International secures loan guarantee

By

Jennifer Braun

Published
Feb 11, 2016

Export Development Canada (EDC) on Thursday announced a CAD 1.9 M loan guarantee for Vancouver-based company Colton International.

The funding obtained through EDC's Export Guarantee Program (EGP) will help Colton International, a wholesaler of Italian name-brand clothing such as Prada, Gucci and Fendi, secure the necessary financing to support its sales to the U.S. and Asia.

"It gave us a chance to go out and find new customers," says company president Howard Colton in a statement. "It's allowed us to open up in different markets with smaller clients."

The Export Guarantee Program is a flexible, risk-sharing guarantee that EDC provides to the bank of an exporter.
 
Mairead Lavery, Senior Vice-President, Business Development, EDC, explains in a statement: "This program is a difference maker for small- to medium-size enterprises because it provides that extra boost they need to grow."