EDC embraces holiday spirit, supports tree-grower with $50,000 guarantee
MONTREAL—Though it may be a niche industry, the $32 million Canadian Christmas tree export market has room to grow.
Each year, more than 1.5 million Canadian-grown evergreens find their way abroad, reaching 18 different countries worldwide, and one Quebec grower is looking to keep its budding business growing by shoring up sales south of the border.
Just in time for the holiday rush, Plantations Nicholas has secured a $50,000 loan guarantee from Export Development Canada.
The guarantee from the trade finance agency will help the tree farm secure the financing it needs to support further sales in the U.S.
“Working with EDC opens up possibilities that we otherwise wouldn’t have been able to secure,” Francis Gilbert, owner of Plantations Nicholas, said. “With EDC’s guarantee to our bank, we were able to secure the financing we needed to prepare for the holiday season, and continue to expand our business.”
With financing in hand, the small grower, which is located in Quebec’s Beauce region, hopes to keep boosting its south-bound shipments of the hot holiday commodity.