Amount:

No Fixed Amount

Type of Program:

Loan


Description:

BDC provides funding to earlier-stage scale-up Canadian tech companies in need to secure their market position and to established business in growth mode. Financing can be used to:

  1. 1
    boost their growth plan (speed up their go-to-market, develop new products and hire more staff);
  2. 2
    speed up new customer acquisition (invest in their sales, advertising, and digital marketing campaigns);
  3. 3
    surpass competitors (acquire another business and attract new customers by expanding into new markets).

Comments on Funding:

Funding takest the form of loans and loan amount and starts at:

  • $10,000 for businesses that have been in operation between 12 and 24 months and
  • $100,000 for businesses that have been in operation for more than 24 months.

The above-mentioned amounts are requested by the online application system when trying to apply.

Loan terms and conditions:

  • the possibility to postpone principal payments at the start of the loan;
  • a customized repayment schedule.

BDC also provides specialized financing solutions that go beyond conventional financing. Their Growth & Transition Capital experts can help you structure a financial package with repayment and interest terms adapted to your needs, without diluting ownership.


When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must be:

  • Canadian-based tech businesses,
  • business owners that:
  • are Canadian citizen or permanent residents, and
  • have reached the age of majority in the province or territory where they live.

Applications Steps:

Applicants must:

1

complete an online business loan request providing a few details about the business, the project and contact information;

2

further discuss with a BDC representative when contacted.

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.

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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