BDC Start-up financing (2022)

ByMaurice

Description:

BDC helps Canadian start-ups get off the ground. Financing can be used for: working capital to supplement an existing line of credit; for fixed assets; to fund marketing and start-up fees; a franchise purchase; or for advisory services.

Comments on Funding:

Funding is a loan of up to $250,000, 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.

Loan terms:

  1. up to 12 months principal postponement at the start of the loan.

Eligibility:

Applicants must:

  • Be a Canadian-based business established for the first time
  • have been in operations for at least 12 months and generated revenues;
  • have a good credit history
  • have a solid business plan ready
  • be entrepreneurs must have reached the age of majority in the province or territory where they live
  • be entrepreneurs must have a reasonable financial investment in the business
  • be entrepreneurs must have experience or expertise in their chosen field
  • demonstrate realistic market and sales potential.

Applications Steps:

Testimonials:

“BDC not only helped me with financing, they provided me with tools and resources that helped structure the business and gave me the freedom I needed to build my company.” – Jamie Hoobanoff, Owner

Other Things to Note:

Previously both the FCC Credit Line and The FCC Advancer Loan were under the same entry.

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.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *