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Business Development Bank Could Speed Things up a Bit

Filed in archive Business Banking by Greg Balanko-Dickson on July 24, 2006

Business Development Bank Could Speed Things up a Bit
The Business developmentlinks Bank of Canada is a Canadian Crown corporation and as with all large bureaucracies things do not move at the speed of business. Via the Ottawa Sun "The business development bank has a way of tying up even a simple process in so much red tape, you could slap a bow on it and call it a Christmas present," Tim said. "What the bank originally projected as a six-week approval has taken nine months ... and counting."

The Business Development Bank of Canada is supposed to be a support to Canadian small businesses looking for financing. With a nine-month decision making cycle I think they could improve. I am sure they have a explanation for every delay but can you imagine being the entrepreneur on the receiving end? Ugh.


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