We don't charge anything. It's different from what EDC is doing. The way the program is meant to be designed, it's a loan that a bank would extend to a client. It's a client the bank sees as representing more risk than had been the case. It's a client who has tapped out their operating lines of existing facilities. The client needs more liquidity, needs more money, but left to their pre-existing risk appetite and processes, the bank wouldn't be able to do anything. By BDC stepping in and taking 80% of the loan, it gives the bank capacity and a means to extend more credit without taking 100% of the risk. The bank will adjudicate and decide on the loan based on how it lends, its underwriting, the requirement to adapt its risk sweet spot for the environment, and then once a month it can pass that loan to us to fund.
We're not involved day to day like EDC is. We're not really approving anything. The premise of our program is to get the banks to move out of their traditional risk-taking and take advantage of the massive reach, scale and speed that all these private sector financial institutions can deliver.