04:48 PM EDT, 03/11/2024 (MT Newswires) -- Blender Bites Limited (BITE.CN) announced Monday that its operating subsidiary, Blender Bites (Holdings) Limited, has entered into a definitive agreement with Export Development Canada (EDC) for a term loan credit facility of up to $2 million.

The facility is now available to the company and will be used to support the operations and the enhancement of the company's brand presence in the United States.

"Our expansion into the U.S. market has been instrumental in the company's growth, and provides a solid foundation for our long-term success. The Facility provides us with additional means to effectively meet the growing demand for our products in the United States, and we are thrilled to have EDC's support as we further our expansion into the American marketplace," said Chelsie Hodge, CEO of Blender Bites, in a statement.

The facility is available in three drawdowns within the next six-months, with interest only payments for the first 12-months.