BDC Financing for tech companies – Tech Scale-up Loan (2022)

ByMaurice
  • This program is currently closed.

Description:

BDC provides funding to IT companies to secure their market position.
Funding can be used to:

  1. promote their solution (invest in marketing and advertising),

  2. surpass competitors (get cash to execute your commercialization strategy),

  3. boost their growth plan (get additional money to speed up your go-to-market plan).

Comments on Funding:

Funding is up to $750,000, and starts at $100,000 (the online application systems requests amounts higher than $100,000).

Repayment period is between 3 and 5 years or one capital payment at the end of the period.

Eligibility:

Applicants must:

  • be Canadian citizens or permanent residents;
  • have reached the age of majority in the province or territory in which they live;
  • have a business that has been in operations for at least 12 months,
  • have launched their solution successfully, but be in need of more customers to secure their market position.

Other Things to Note:

Financing for Tech Companies- which includes both Financing for Tech Companies – Tech Scale-up Loan and Financing for Tech Companies – Loan for Tech Companies with Recurring Revenues.

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

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