Interim Financing for Canadian Proceedings
Provida provides court-approved interim financing in CCAA proceedings, BIA proposals and receiverships. We work alongside the monitor, trustee or receiver and counsel, so your client can keep operating while the plan comes together.
- Facilities up to $5,000,000Sized to the cash flow forecast and the business behind it.
- CCAA, BIA proposals and receivershipsStructured for the proceeding, including lending to a receiver.
- Built for court supervisionTerms and reporting that fit the approved forecast and the monitor's or trustee's oversight.
- A path to what comes nextWhen the company emerges, we can provide the exit financing.
Working Alongside the Process
Bring Us the File
Share the cash flow forecast, the plan or sale process, and the timeline.
Agree the Terms
We set the facility size, reporting and conditions around the forecast and the business.
Court Approval
The facility and its charge go to the court as part of the application.
Fund and Report
Advances follow the approved forecast, with regular reporting to us and the monitor or trustee.
Monitors, Trustees, Receivers and Counsel
We work with the professionals who run Canadian restructurings: monitors and proposal trustees, receivers, insolvency counsel, financial advisors and chief restructuring officers.
Interim financing fits a company whose operations are viable but whose cash flow cannot carry it through the proceeding. It funds payroll, suppliers and operations while the company works through a plan, a sale process or a refinancing.
What We Look At
- A viable core business
- A credible cash flow forecast
- Assets that support the facility
- Support from the monitor or trustee and key stakeholders
DIP Financing with Provida
Which proceedings do you fund?
CCAA proceedings, proposals under the Bankruptcy and Insolvency Act (BIA), including those that start with a notice of intention, and receiverships, where we lend to the receiver so the business can keep operating.
What size of facility?
Up to $5,000,000.
How is a facility secured?
By the company's assets and the charge the court grants. We look at the business as a whole, not one type of asset.
What do you need to assess a file?
The cash flow forecast, recent financial statements, an outline of the plan or sale process, and the proposed timeline.
What does it cost?
DIP financing is priced for the risk and the reporting involved. We set out full terms in time for them to go before the court.
Can you provide the exit financing?
Yes. If the company emerges, we can refinance the DIP facility and carry the company forward. See exit financing.
Have a File That Needs Interim Financing?
Tell us about the company and the proceeding. A member of our team will contact you within one business day.