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TORONTO, November 6,
2009 – Business credit may have been falling over
the past few months, but BMO has stepped up by making a minimum of
$1 billion available to lend to small- and medium-sized enterprises
(SME) across Canada.
"According to data from the Bank of Canada, short-term business
credit growth has been slowing throughout the recession, and has actually
shrunk over the past four months,” said Jennifer Lee, Economist,
BMO Capital Markets. "But economic recoveries yield enormous opportunity.
The great majority of Canada's small businesses will survive this latest
recession and emerge stronger than ever."
"We want to recognize the thousands of small businesses across
the country who have weathered the recession so well," said Gail
Cocker, BMO's Senior Vice-President, Commercial Banking. "Now that
we are into the recovery, many businesses will be looking to move forward
with expansion plans or restock their inventory. With this minimum billion
dollar commitment and the expertise of our bankers, BMO can provide those
businesses with the capital and advice they need to succeed.
"We're open for Canadian businesses - throughout the business cycle," said
Ms. Cocker. "To entrepreneurs across the country, we want you
to know we are ready to listen and advise you on the best solutions
for your business. Come and talk to us today."
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