EDC boosts term loan to Enablence to $5M

Ottawa-based Enablence Technologies has increased its loan facility with Export Development Canada from $3 million to $5 million, the company said Thursday.

The optical component supplier says the 18-month term loan will “provide additional working capital in support of the fulfillment of customer orders.”

It says the loan will help it to continue to grow its optical sub-assembly business.

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Enablence has struggled with losses in recent years. In the first nine months of its 2016 fiscal year, the company reported net losses of just over $6 million. It has an accumulated deficit of more than $111 million.

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