Finance committee  I'll preface my answer by quickly saying that our move internationally started in about 2004, from zero. We've invested in playing in what I would consider the largest sandbox, playing around the world, and I think that from a Canadian perspective, it's a great story. We design a

Finance committee  I would say that we were fully committed to working with international customers. We built very strong relationships. Our customers are names that may be familiar to some folks here: Schlumberger, Baker Hughes, all of the national oil companies around the world. We have a very st

Finance committee  I echo those remarks exactly. Considering the federal government's support, the chartered banks should have some criteria around where they can provide support to good companies that need the help right now.

Finance committee  I'm not even going to consider that as a direct relationship. We've been working with them very closely, trust me. We've talked to EDC every week for weeks and weeks, if not months. Remember, this is a draft term sheet. We finally got the actual term sheet, which I signed last

Finance committee  Yes. What happens is that with EDC, like most conventional lenders, even though I signed the terms sheet that's drafted, it has to get up to committee approval. Then once that starts, the lawyers have to do their thing, and we have to provide a bunch of documentation. There's a w

Finance committee  Five business days.

Finance committee  I would say that it has significant room for improvement.

Finance committee  Just to be clear, we've not looked to participate in the LEEFF program. I can just say that even with EDC and the BDC, they're not like chartered banks. You're going to pay higher.... Your cost of capital is going to be higher, but not like mezzanine debt. It's kind of in between

Finance committee  I think that what they chose to do was, rather than segment all of this funding into all these different buckets with different criteria, I think their immediate response had a completely different philosophy: the PPP. They said, “Look. Some companies are out of business right no

Finance committee  Yes, and I can update you on that. We have an existing facility with EDC. What we are trying to do with EDC is to consolidate that debt with another debt that is due in 2021, which we know with the upcoming revenue drop is going to cause us some liquidity issues. We've been work

Finance committee  Thank you, Chairman. Good afternoon and thank you for inviting me to speak to the finance committee regarding the federal government's response to the COVID-19 pandemic. I am the president and CEO of McCoy Global Inc. McCoy was established in 1914 as a blacksmith shop in Edmo