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BDC Financing — Accelerator Loan Guarantee
Canada
Facilitates business growth through financial institution partnerships
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Business Development Bank of Canada (BDC)
grant_single|status
grant_card_status|open
grant_single_labels|preview
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.
grant_single_labels|terms_and_conditions
- 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.
grant_single_labels|admissibility
- 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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|zone
- Companies based in Canada.
- Specific programs available to Ontario-based clients with institutions like Alterna Savings and Meridian Credit Union.
grant_single_labels|register
- Step 1: 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.
- Step 2: Eligibility Validation
- Your financial institution will review your business information to determine eligibility.
- Provide necessary documentation as requested by the institution.
- Step 3: Loan Application Processing
- Financial institution processes your loan application.
- Request might include additional documentation or information.
- Step 4: Receive Loan Guarantee
- Upon approval, BDC guarantees the loan through the financial institution.
- Discuss the terms and conditions associated with your loan guarantee.
- Step 5: Manage Loan Details
- Financial institution disburses the loan amount.
- Work with your institution to manage repayment and other related aspects.
grant_single_labels|otherInfo
- 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.
