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BDC: Support for entrepreneurs impacted by the coronavirus COVID-19

Tuesday, March 17, 2020
The health and well-being of entrepreneurs, clients and non-clients as well as of our partners is our top priority. BDC stands ready to support companies through to a more stable period.

As announced by the Minister of Finance, BDC puts in place additional measures to provide relief for Canadian entrepreneurs.

Effective March 18, 2020, new relief measures for qualified businesses include:

  • Working capital loans of up to $2 million with flexible repayment terms such as principal postponements for qualifying businesses;
  • Flexible repayment terms, such as postponement of principal payments for up to 6 months, for existing BDC clients with total BDC loan commitment of $1 million or less;
  • Reduced rates on new eligible loans;
  • Additional details regarding Business Credit Availability Program (BCAP) measures, including industry specific support, to be announced in the coming days.

What you need to know about the Business Credit Availability Program (BCAP)

  • Businesses seeking support through BCAP should first contact their financial institutions for an assessment of their situation.
  • Financial institutions will refer to EDC and BDC their existing clients whose needs extend beyond what is available through the private sector alone.

These new measures aim to alleviate the impact of COVID-19 on business activity and complement services offered by other financial institutions, with whom BDC will continue working. For BDC, eligible businesses needed to be financially viable entities prior to the impact of the coronavirus.

For the latest updates by the Government of Canada, visit Resources for Canadian Businesses: COVID-19

Do you have questions or need financial support?

Important note: We are currently receiving a higher than usual number of calls and financing requests, which might generate longer waiting times. We are treating requests as they come in.

If you have received an email confirmation, you don’t need to call us, we are working on your request. Rest assured a BDC representative will contact you as soon as possible. Thank you for your understanding.




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