COVID-19

New credit and loan programs through the BCAP and BDC

In recent weeks, the federal government has introduced a range of financial relief measures to help businesses negatively impacted by COVID-19. Specifically, with the support of Export Development Canada (EDC) and Business Development Bank of Canada (BDC), the Business Credit Availability Program (BCAP) is providing $65 billion in direct lending and other financial support to businesses dealing with the impact of COVID-19.

What programs are available?

At this point, many businesses are already familiar with the Canada Emergency Business Account (CEBA), which is a BCAP program that’s offering partially forgivable loans of up to $40,000 to small businesses and not-for-profit organizations. Two additional BCAP programs have been introduced and a separate loan program directly from the BDC:

  • BDC Co-Lending Program, which sees the BDC partnering with other financial institutions to provide incremental credit of up to $6.25 million to eligible small and mid-sized businesses
  • EDC Loan Guarantee Program, which is providing loan guarantees of up to $6.25 million for borrowers with both export business and now expanded to include domestic business as well
  • BDC Working Capital Loan Program, which is offering a 36-month working capital loan of between $100,000 and $2 million to small and mid-sized businesses

To help you navigate these programs, download our PDF to view information on how they work and determine if your business is eligible.

Download PDF [ 928 kb ]

 

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