Crediteris and US-written credit courses
Credit reasoning travels. The statements, the security law and the tax claims do not.
7 provinces
in the case library, from New Brunswick to British Columbia.
What differs
| Dimension | US-written credit courses | Crediteris |
|---|---|---|
| Accounting standard | US GAAP, usually on audited statements. | Compiled ASPE statements from owner-managed companies, notes included. |
| Security over assets | UCC Article 9 filings. | A general security agreement under the provincial PPSA, and the Québec hypothec. |
| Who ranks ahead of you | IRS liens and state tax claims. | The CRA deemed trust for source deductions, which sits ahead of a secured lender. |
| Government programs | SBA 7(a) and 504. | The Canada Small Business Financing Program, in the structuring module. |
| The companies in the cases | US mid-market borrowers. | A $529k excavation loan in New Brunswick, a $6.5M pulse processor in Saskatchewan. |
When the US course wins
If your book is US-domiciled borrowers, buy the course that teaches the law you lend under. Crediteris teaches the Canadian one.