 The Benefit to Canadian Exporters is Clear
Through NORTHSTAR, Exporters can offer financing in support of their bids for small and medium-size export transactions around the world.
NORTHSTAR's services benefit Canadian Exporters in several ways:
- Exporters can include a Financing Term Paper from NORTHSTAR as part of their marketing package, this can be a valuable tool to their sales force
- Buyer financing is available even for sales of relatively low dollar value
- Funds are payable to the exporter directly, and NORTHSTAR assumes the buyer risk
- Financing provided to the buyers is non-recourse to the Canadian exporter provided the exporter has fulfilled his obligation under the contract of sale with the buyer
- Exporters receive payment in full from NORTHSTAR within ten days of shipment
- The exporter's lines of credit are not affected by NORTHSTAR's financing.
- Loan documentation is standardized for greater efficiency and lower cost
- NORTHSTAR offers a quick turnaround of applications for buyer financing (within ten business days of submitting a complete application)
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Northstar shareholders are the Bank of Montreal, the Royal Bank of Canada, National Bank of Canada, HSBC Bank Canada, CDP Capital International and the Government of British Columbia. The Government of Ontario provided initial capital, and the Government of Canada provides support through the Export Development Canada (EDC), the Canadian Commercial Corporation (CCC) and the Business Development Bank of Canada (BDC).
