BDC Financing for tech companies – Loan for tech companies with recurring revenues (2022)

ByMaurice
  • This program is currently closed.

Description:

BDC helps ITC companies to invest in customer acquisition to increase their recurrent fee revenues.

Funding can be used to:

  1. speed up new customer acquisition (invest in your sales, advertising and digital marketing campaigns);

  2. surpass competitors (invest in commercialization of existing products and new product development);

  3. boost their growth plan (get additional money to ramp 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).Loan terms:

  1. up to 24 months principal postponement at the start of the loan.

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,
  • be businesses with monthly recurring revenues of $50,000 or more,
  • need cash to invest in customer acquisition to increase their recurrent fee revenues.

Applications Steps:

Other Things to Note:

There is a new entry -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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