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

ByMaurice January 26, 2022September 7, 2022

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:

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

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

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:

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

When It Ends:

Closed

Deadline:

Rolling deadline

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:

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.

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.