Business Development Bank of Canada (BDC)-Co-Lending Program (2022)

ByMaurice
  • This program is currently closed.

Description:

The Co-Lending Program provides loans of up to $12.5 million to Canadian businesses that are directly or indirectly impacted by COVID-19 for their operational cash flow requirements.

Comments on Funding:

Funding is between $1 million and $12.5 million for their operational cash flow requirements, co-financed by BDC and the applicant’s primary financial institution.

Loan terms and conditions:

  1. Funding is intended to cover their cashflow needs, including regularly scheduled principal and interest payments on existing debt.
  2. Principal payments can be postponed for up to 12 months if applicants need additional breathing room.

Eligibility:

Applicant must:

  • be Canadian businesses that are directly or indirectly impacted by COVID-19;
  • have been financially stable and viable prior to the current economic situation;
  • use this financing solely to support operational cashflow requirements;
  • meet their primary financial institution’s credit criteria.

Other Things to Note:

The Co-Lending Program was available until or before December 31, 2021 (ended).

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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