Financing for Tech Companies – Government of Canada, Business Development Bank of Canada (BDC)
Description:
Financing for Tech Companies Loan provides funding to earlier-stage scale-up Canadian tech companies in need to secure their market position and to established businesses in growth mode. Financing can be used to:
- boost their growth plan (speed up their go-to-market, develop new products and hire more staff);
- speed up new customer acquisition (invest in their sales, advertising, and digital marketing campaigns);
- surpass competitors (acquire another business and attract new customers by expanding into new markets).
Comments on Funding:
Funding takes the form of loans and starts at $100,000.
Loan terms and conditions:
- the possibility to postpone principal payments at the start of the loan;
- a customized repayment schedule.
Eligibility:
Applicants must:
- are Canadian citizen or permanent residents, and
- have reached the age of majority in the province or territory where they live.
Other Things to Note:
BDC also offers solutions that protect cash flow and support tech businesses at all stages, including those with a recurring fees revenue model. This applies to businesses with monthly recurring revenues of $50,000 or more. Other financing solutions are available for businesses whose monthly recurring revenues are less.
Program Contact:
When It Ends:
Ongoing
Deadline:
Rolling deadline