BDC Equipment purchase financing (2022)
BDC helps Canadian businesses invest in equipment to expand and modernize operations, or replace outdated machinery so that they can increase production and fuel their growth.
Financing can be used to:
- increase capacity (purchase production line machinery, equipment, or specialized equipment such as lab material),
- improve efficiency (invest in commercial vehicles or modernize operations),
- complement their line of credit (replenish working capital depleted by equipment costs).
Comments on Funding:
Funding is up to 125% of the purchase cost and expenses and starts at $100,000 for businesses that have been in operation for more than 24 months.
The above-mentioned amounts are requested by the online application system when trying to apply.
- up to 12 years repayment period;
- up to 24 months principal postponement at the start of the loan.
- BDC doesn’t take personal assets as collateral for the loan.
complete an online business loan request providing a few details about the business, the project and contact information;
Some preliminary documentation:
Other Things to Note:
The application portal asks for how long has the business been in operation. If the applicant selects “between 12-24 months”, he is redirected towards a different program (i.e., Start-up financing). I concluded that only businesses older than 24 months are allowed to apply.
“I’m a relationship builder, so we’re loyal to BDC because the bank really wants us to succeed. With their financing, we’ve been able to grow a profitable business.” – Cristen DeCarolis, Pizzeria Prima Strada
When It Ends: