How much funding can be received?

Funds up to 500000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the BDC Financing — Accelerator Loan Guarantee?

BDC Financing — Accelerator Loan Guarantee is funded by Business Development Bank of Canada (BDC)

What are BDC Financing — Accelerator Loan Guarantee's eligibility criterias?

Business must be based in Canada. Must have been in operation for at least 12 months. Revenues should be less than $10 million.

BDC Financing — Accelerator Loan Guarantee

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Canada

Facilitates business growth through financial institution partnerships

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Loans and Capital investments

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Business Development Bank of Canada (BDC)

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The BDC Financing — Accelerator Loan Guarantee offers up to $500,000 to support Canadian entrepreneurs in expanding their businesses and enhancing cash flow. This program is designed for companies with less than $10 million in revenue that have been operational for over 12 months.

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Loan amounts range from $25,000 to $500,000 for working capital needs.
Loans are guaranteed by BDC but managed and disbursed by participating financial institutions.
The duration and repayment terms of the loan are determined by the collaborating financial institution.
Applicants must contact a partner institution where they hold their primary banking relationship.
BDC collaborates with financial institutions to facilitate diversified and inclusive access to funding for entrepreneurs.

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The business must be based in Canada.
The business must have been in operation for a minimum of 12 months.
The business must have revenues of less than $10 million.
The business must require a working capital loan between $25,000 and $500,000.

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The BDC Accelerator Loan Guarantee is available to Canadian businesses irrespective of industry, as long as they meet the general eligibility criteria such as being in operation for a minimum of 12 months, having revenues under $10 million, and requiring working capital between $25,000 and $500,000. Specific industries or types of companies are not outlined in the provided details.

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Companies based in Canada.
Specific programs available to Ontario-based clients with institutions like Alterna Savings and Meridian Credit Union.

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Contact Financial Institution

Initiate contact with one of the partner financial institutions for the program.
Discuss your business needs and confirm the program's suitability for you.

Eligibility Validation

Your financial institution will review your business information to determine eligibility.
Provide necessary documentation as requested by the institution.

Loan Application Processing

Financial institution processes your loan application.
Request might include additional documentation or information.

Receive Loan Guarantee

Upon approval, BDC guarantees the loan through the financial institution.
Discuss the terms and conditions associated with your loan guarantee.

Manage Loan Details

Financial institution disburses the loan amount.
Work with your institution to manage repayment and other related aspects.

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The BDC Accelerator Loan Guarantee is aimed at fostering a diverse, equitable, and inclusive entrepreneurial environment.
BDC works in collaboration with specific financial institutions across Canada to facilitate loan guarantees.
The responsibility for the management and status updates of the loan falls to your primary financial institution.
BDC does not have visibility into the details or reasons if an application is declined.
BDC continues to expand this offering by adding more financial institutions to their partner list.