Amount:
No Fixed Amount
Type of Program:
Loan
Description:
BDC helps Canadian businesses invest in equipment to expand and modernize operations, or replace outdated machinery so that they can increase production and fuel their growth.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:
- 1increase capacity (purchase production line machinery, equipment, or specialized equipment such as lab material),
- 2improve efficiency (invest in commercial vehicles or modernize operations),
- 3complement 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:
- 1$10,000 for businesses that have been in operation between 12 and 24 months and
- 2$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.
Loan terms:
- 1up to 12 years repayment period;
- 2up to 24 months principal postponement at the start of the loan.
- 3BDC doesn’t take personal assets as collateral for the loan.
When It Ends:
Ongoing
Deadline:
Rolling deadline
Eligibility:
Applications Steps:
Applicant must:
complete an online business loan request providing a few details about the business, the project and contact information;
further discuss with a BDC representative when contacted.
Documentation Needed:
Some preliminary documentation:
Other Things to Note:
The loans can be used for: Production line machinery and equipment; Specialized technology, such as lab equipment; or Commercial vehicles and much more.
Testimonials:
"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
