Business Development Bank of Canada Highly Affected Sectors Credit Availability Program (HASCAP) (2022)


Through HASCAP, businesses heavily impacted by COVID-19 can access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs.

Comments on Funding:

Funding takes the form of loans ranging from $25,000 to $1 million.
Entrepreneurs can apply for a loan under the HASCAP Guarantee for each legal entity you own, up to a maximum combined amount of $6.25 million (all legal entities combined).

Loan terms and conditions:

  1. The guarantee covers amounts ranging from $25,000 to $1 million to ensure a degree of continuity for businesses through the pandemic.
  2. The Government of Canada has mandated BDC to provide a guarantee to the applicant’s financial institution for 100% of the value of a new term loan, to increase the company’s ability to access new credit.
  3. The interest rate is 4% and the repayment term is up to 10 years.
  4. Principal payments can be postponed up to 12 months at the start of the loan.


Applicants must:

  • be Canadian-based businesses heavily impacted by COVID-19;
  • have been financially stable and viable prior to the current economic situation;
  • have received payments either from:
  • the Canada Emergency Subsidy (CEWS) and/or
  • the Canada Emergency Rent Subsidy (CERS) and/or
  • Tourism and Hospitality Recovery Program (THRP) and/or
  • Hardest-Hit Business Recovery Program (HHBRP) and/or
  • Canada Recovery Hiring Program (CRHP).
  • make sure they can demonstrate a minimum 50% revenue decline for at least three months (not necessarily consecutive) within the eight-month period prior to the date of the HASCAP Guarantee application;
  • provide financial statements that reflect three months (not necessarily consecutive) in which monthly year-over-year revenue decreased by at least 50% within the eight-month period prior to the date of the HASCAP Guarantee application, if the applicant does not qualify for the above-mentioned programs, but otherwise meets all HASCAP eligibility criteria;
  • use the loan to continue or resume operations. The loan cannot be used to pay or refinance existing loans.

The applicant’s primary financial institution will determine whether the applicant qualifies for this program, based on the eligibility criteria established by the Government of Canada. Neither BDC nor the applicant’s financial institution has the authority to grant exceptions to eligibility criteria.

Other conditions may also apply.

Other Things to Note:

The program was extended until March 31, 2022.

Program Contact:

Minister Ng announces launch of Highly Affected Sectors Credit Availability Program

Highly Affected Sectors Credit Availability Program (HASCAP) Guarantee


Guaranteed Government Grants

Get a FREE 45-page guide with proven steps to business grants success:

    We respect your privacy. Unsubscribe at anytime.


    Support for entrepreneurs impacted by the Covid-19

    Similar Posts

    Leave a Reply

    Your email address will not be published. Required fields are marked *