Guaranteed, low-interest loans of $25,000 to $1 million for eligible businesses to cover operational cash flow needs.
What is the Highly Affected Sectors Credit Availability Program (HASCAP)?
The Highly Affected Sectors Credit Availability Program (HASCAP) provides financial support for small and medium-sized businesses that have seen their revenues decrease by 50% or more as a result of COVID-19. Through HASCAP, the Business Development Bank of Canada (BDC) will work with participating Canadian financial institutions to offer government-guaranteed, low-interest loans from $25,000 to $1 million.
HASCAP will help businesses across the country, in all sectors, with their day-to-day operating costs during the COVID-19 crisis and enable them to invest in their longer-term prosperity.
Eligible businesses can start applying February 1st at principal financial institutions and more widely by February 15th. Interested businesses should contact their primary lender to get more information and to apply.
Contact your primary financial institution to apply.
Who is Eligible?
HASCAP provides financial support for small and medium-sized businesses that have seen their revenues decrease by 50% or more as a result of COVID-19. To be eligible, businesses need to show a year-over-year revenue decline of at least 50% in three months, within the eight months prior to their application.
- Applications open at some participating financial institutions: February 1st, 2021
- Applications open at other financial institutions: February 15th, 2021
- Closing date: December 31sy, 2021.