Success Story

BDC/Community Futures Collaboration

 

 

 

A client that provides heating, ventilation and air conditioning services wanted to purchase a business in the same industry as they saw in it great potential. So in October, 2017 a Community Futures office and BDC partnered under a Pari-passu agreement in order to make this change of ownership possible. The transaction consisted of the following:

Subsequent to the original purchase and financing, in March 2018 the client approached BDC to purchase real estate as they were outgrowing their current leased location. BDC and the Community Futures office agreed to supersede their existing loans and provide the financing needed for the real estate with another Pari-passu agreement. In addition, the client saw an opportunity to better market their business, so they accepted a BDC Sales & Marketing consulting mandate, also financing under this new loan. To summarize, this second transaction was as follows:

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About Community Futures

For over 30 years, we’ve been fostering entrepreneurship in rural BC. We offer small business loans, business counseling and specialized programs to help you start or grow a business, and to help communities become more resilient and dynamic. Find out more…

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#C230 - 7871 Stave Lake St.
Mission, BC  V2V 0C5

T: 604-289-4222
T: 1-888-303-2232

 

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