Business Credit Availability Program (BCAP) | Business Development Bank of Canada (BDC)
Loans for Canadian small and medium-sized businesses to cover payroll and operating costs caused by the current economic situation. The Business Credit Availability Program BCAP is being extended through June 2021.
Background
The Business Credit Availability Program is comprised of BDC’s Co-lending Program for SMEs, and its Mid Market Financing Program, and EDC’s Loan Guarantee for Small and Medium-sized Enterprises (SMEs), as well as its Mid-Market Guarantee and Financing Program which will be launching soon.
Through the $10 billion Federal government Business Credit Availability Program, the Business Development Bank of Canada (BDC) has made available working capital loans of up to $2 million, postponement of payments and reduced rates on new eligible loans.
Small Business Loan (part of BCAP - Business Credit Availability Program)
Up to $100,000 available per business. Online application process.
Eligible businesses:
Canadian-based
Generating revenues for at least 24 months
Good credit history
Owner is age of majority
You may postpone capital payments for the first 6 months and repay over 5 years. No personal collateral taken.
Working Capital Loan (part of BCAP - Business Credit Availability Program)
For loans over $100,000. Online application submission, will be contacted by BDC rep.
Flexible repayment terms, including option of postponing start of capital payments and matching payments to cash flow.
Additional loans up to $60 million and guarantees up to $80 million to be announced.
Purchase Order Financing (part of BCAP - Business Credit Availability Program)
Covers up to 90% purchase order amount. Online application submission, will be contacted by BDC rep.
Repayment schedule and amortization aligned with purchase order payment terms and conditions.
Shorter terms than working capital loan.
Interest-only payments with a balloon payment at loan maturity.
Loan disbursement is directly to business, and in either CAD or USD.