Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
CIBC launching new co-lending program with Business Development Bank of Canada
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
TORONTO, April 24, 2020 /CNW/ - CIBC today announced that a new co-lending program with the Business Development Bank of Canada (BDC) will launch Monday, April 27, to provide eligible businesses impacted by COVID-19 with loans of up to $6.25 million in working capital relief. Clients can apply online or by contacting their CIBC representative.
"The COVID-19 pandemic continues to disrupt businesses in terms of cash flow and their ability to serve customers," said Jon Hountalas, Senior Executive Vice-President, CIBC Commercial Banking and Wealth Management, Canada. "The BDC Co-Lending Program is a new useful tool in the suite of solutions we have made available to help Canadian businesses operate effectively and with greater flexibility."
The new BDC program is available as a term loan for working capital to cover operating costs such as payroll and leases. Loan amounts will be based on business revenues and can be customized to a firm's specific circumstances. BDC will provide 80 per cent of the financed amount with the remaining 20 per cent from the relevant participating financial institution.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
CIBC team members are available to provide advice and assistance to eligible business clients in structuring loans to meet their needs.
For more information, clients may contact their CIBC representative.
About CIBC
CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.
SOURCE CIBC
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.