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EDC and Three Farmers Portfolio Credit Insurance Case study (PDF)

EDC’s Portfolio Credit Insurance helps Three Farmers protect profits, expand business

Launched in 2011, Three Farmers is a Saskatchewan-based manufacturer of plant-based snackables made from roasted chickpeas, lentils and fava beans grown in the Canadian Prairies. It also co-manufactures camelina oil. It exports to the United States, Australia, Japan and Singapore.

The challenge: Securing more working capital from traditional lenders 

Being a relatively new company, Three Farmers was seen as a risky prospect by traditional lenders and it couldn’t margin its international receivables which form a significant part of its annual sales.

Three farmers foods owners discuss Indo-Pacific expansion

In this industry, specifically, our risk profile as a business is just far too great for traditional lenders… It (PCI) made the bank more comfortable to margin foreign receivables

Natasha Vandenhurk — CEO and co-founder, Three Farmers

How EDC helped 

Export Development Canada (EDC) offered Three Farmers Portfolio Credit Insurance (PCI), which protects their international accounts receivables for up to 90% against buyer non-payment (default or bankruptcy). With PCI coverage, Three Farmers was able to get an operating loan facility against its international receivables. 

Three farmers foods owners outside a farm building

Results

When the company was receiving order requests from international buyers and needed to drastically increase its inventory, PCI enabled them to get the funding they needed. 


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