RBC offering NACO angel-backed companies access to credit, resources

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RBC and NACO have entered into a partnership with the goal of supporting NACO angel-backed companies.

RBC will provide NACO angel-backed companies a business banking package that features access to credit, access to professional advice and services, and access to RBC advisors. NACO said it is currently working on its efforts to provide angels, incubators, accelerators, and their investee companies with more tools and resources.

“We are proud to leverage the NACO network to reach Canada’s most promising entrepreneurs,” said Yuri Navarro, executive director of NACO. “By partnering with RBC, we will increase and improve access to essential tools and resources that will make a meaningful impact in a startup’s earliest and most critical stages of development.”

Early-stage companies that have secured capital from an angel investor in good standing with NACO may be eligible for an RBC Visa Business Platinum Avion facility of up to $50,000. Eligible startups must be angel-backed by a NACO member in good standing, and have received minimum equity financing of $125,000 from a NACO member angel investor within the past two years.

“RBC believes the future of Canada’s economic prosperity depends on our ability to commercialize ground breaking ideas, which is why we’re proud to work with NACO to support our country’s early stage tech companies,” said Greg Grice, executive VP of business financial services at RBC. “RBC recognizes that tech companies have a unique set of needs. This collaboration is one way we’re supporting entrepreneurs to grow and scale their business and positioning them to create positive impact in Canada and around the world.”

More information on the program is available here.