Comments on Funding:
Funding starts at $100,000 for businesses that have been in operation for more than 24 months.
The above-mentioned amount is requested by the online application system when trying to apply.
BDC doesn’t take personal assets as collateral for the loan.
complete an online business loan request providing a few details about the business, the project and contact information;
Other Things to Note:
The application portal asks for how long has the business been in operation. If the applicant selects “between 12-24 months”, he is redirected towards a different program (i.e., Start-up financing). I concluded that only businesses older than 24 months are allowed to apply.