Export Development Canada (EDC) and the Business Development Bank of Canada (BDC) support to help enable access to capital for Canadian businesses.
Latest Update: On August 31st, the Government of Canada extended the program until June 2021.
What is the Business Credit Availability Program (BCAP)?
Through the Business Credit Availability Program (BCAP), Export Development Canada (EDC) and the Business Development Bank of Canada (BDC) are working with private sector lenders to support access to capital for Canadian businesses in all sectors and regions.
Several financing options are available:
- Canada Emergency Business Account: Loans of up to $40,000 for small businesses and not-for-profits, interest-free for one year. A portion may be forgivable. Extended to October 31, 2020.
- Mid-Market Financing Program: Junior loans ranging between $12.5 million and $60 million for medium-sized businesses particularly impacted by the COVID-19 pandemic. Available until June 2021.
- EDC Business Credit Availability Program (BCAP) Guarantee: EDC will guarantee 80 percent on the money you borrow, up to a total loan of $6.25 million. This applies to new operating lines of credit or new term loans to support cash flow needs during the pandemic. EDC fees related to the guarantee will be deferred for the first six months. Available until June 2021.
- Co-Lending Program: Between $1 million and $12.5 million for operational cash flow requirements, co-financed by BDC and your primary financial institution. Available until June 2021.
Each of these programs will be administered through your financial institution. Contact them for details and to apply.