Mike Wallace at the Industry, Science and Technology Committee

On November 6th, 2014. See this statement in context.

November 6th, 2014 / 10:30 a.m.

Conservative

Mike Wallace Conservative Burlington, ON

If they came to BDC currently, you would have to also do due diligence on whether to lend to that young entrepreneur.

Under the new system, the due diligence, or the bureaucracy required to get the cash, would be reduced somewhat, in that you are relying on the due diligence of the young entrepreneur organization. Because you've lent money directly to them, based on their due diligence they will turn over that money to the actual entrepreneur.

Is that correct?

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