BDC — Canada Digital Adoption Program (CDAP) Loan

Who is eligible?

• Small and medium-sized enterprises (SMEs) in Canada

Who is not eligible

• Businesses that did not sign a grant agreement before February 19, 2024.
• Companies that started but did not complete their grant application or sign a grant agreement by the specified deadline.
• Businesses with expired grant agreements.

Eligible expenses

• Acquisition of IT equipment necessary for digital transformation.
• Installation of new digital technologies.
• Updating or expanding existing IT infrastructure.
• Training staff on newly onboarded technologies.
• Materials and support services directly related to adopting technology.
• Further advisory services specifically related to the digital adoption plan.

Eligible geographic areas

• Businesses located anywhere in Canada.

• Businesses must have a signed grant agreement prior to February 19, 2024.
• The digital adoption plan must be built with an ISED-approved partner.
• Businesses must submit their digital adoption plan and invoices for approval to receive a grant of up to $15,000.
• Eligibility to apply for a 0% interest loan of up to $100,000 requires having a digital adoption plan approved by ISED.
• Loan amounts are dependent on annual gross revenues as of the closing date of the last fiscal year-end, with a minimum requirement of $500,000 annual income:
• Revenues between $500,000 and below $5M: eligible for a loan between $25,000 and $50,000.
• Revenues $5M and more: eligible for a loan between $25,000 and $100,000.
• Loan usage must align with recommendations from the approved digital adoption plan.
• Applicants must comply with all program deadlines for grant claims and loan applications.
• Applicants must meet BDC loan terms and credit worthiness requirements.

• Step 1: Build a Digital Adoption PlanEngage with an ISED-approved digital advisor from the Digital Advisors Marketplace to develop your digital adoption plan.
• Step 2: Submit Digital Plan and InvoicesSubmit your completed digital adoption plan and the relevant invoices to Innovation, Science and Economic Development Canada (ISED) for review and approval.
• Step 3: Receive Grant ApprovalReceive confirmation of grant approval and the disbursement of up to $15,000 to cover 90% of eligible advisory fees.
• Step 4: Apply for the BDC 0% Interest LoanOnce your digital adoption plan is approved, log in to the CDAP portal on the ISED website.
• Access the link to the BDC loan application form through the portal.
• Complete the BDC loan application, ensuring it aligns with BDC’s terms and credit worthiness requirements.
• Step 5: Loan Application and ImplementationReceive notification regarding the status of your loan application.
• If approved, use the funds exclusively for costs directly related to implementing your digital adoption plan, such as IT equipment, installation, staff training, and advisory services.

• Once your digital adoption plan is approved, you have 6 months to apply for the BDC 0% interest loan.
• If you are declined for the loan, standard banking practices apply and this could affect your credit score.
• Choosing BDC as your advisory service provider does not affect your eligibility for the zero-interest loan; all businesses are treated equally.
• Applicants must adhere strictly to the program deadlines outlined in their grant agreement, as extensions are not permitted.