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Client Communication:

Access to Credit for Small to Medium Businesses

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BDC’s Small Business Loan (NEW May 7, 2020)

  • Up to $100,000
  • New clients and/or existing clients whose total debt with the bank is less than $100,000
  • The following eligibility requirements must be met:
    • Based in Canada
    • Generating revenue for at least 24 months
    • Good credit history

Apply here: https://www.bdc.ca/en/financing/business-loans/pages/small-business-loan.aspx

Canada Emergency Business Account (CEBA)

  • Up to $40,000
  • Interest-free to December 31, 2022
  • Repay by Dec 31, 2022 and receive 25% forgiveness
  • You will need 2019 payroll of $50,000 to $1,000,000 to qualify.
    UPDATE: You will need 2019 payroll of $20,000 to $1,500,000 to qualify.
  • For more information: Click Here | Application are available at your bank

May 20, 2020

Program will be expanded to:

  • sole proprietors receiving income directly from their businesses
  • businesses that rely on contractors
  • family-owned corporations that pay employees through dividends rather than payroll

To qualify, these applicants with payroll lower than $20,000 would need:

  • have a business bank account
  • have a CRA business number, and to have filed a 2018 or 2019 tax return.
  • have eligible non-deferrable expenses between $40,000 and $1.5 million. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance.

June 18, 2020

Expanded program which was to commence June 19, 2020 was put on hold. Updates to come.

June 26, 2020

Expanded program available June 26, 2020.

September 10, 2020

Deadline for CEBA applications is extended from August 31 to October 31, 2020.

October 13, 2020

Program expanded to provide an additional interest-free loan of up to $20,000.

Another $10,000 of this new loan would be forgivable, if repaid by December 31, 2022.


The application deadline: extended to December 31, 2020.

More details on this change, including the application process, are expected soon.

BDC Co-Lending Program for SMEs

  • Business with revenue less than $1M: Up to $312,500
  • Business with revenue between $1M - 50M: Up to $3,125,000
  • Business with revenue $50M+ -Up to $6,250,000
  • Medium-to long-term loans with amortizations up to 20 years.
  • The following eligibility requirements must be met:
    • Be an existing Commercial Banking client and it is your primary bank.
    • Canadian business impacted by COVID-19.
    • The program is intended to support bridging businesses’ operating expenses (i.e., payroll, rent, utilities, taxes and other fixed costs), until cash flows resume back to pre-COVID conditions.

Apply via your bank

BDC Working Capital Loans

  • Up to $2 million
  • Flexible repayment terms such as principal postponement for qualifying businesses

Source: https://www.bdc.ca/en/pages/special-support.aspx

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