How much funding can be received?

Funds up to 100000% of admissible expenses.

What is the deadline to apply?

The program is accepting continuous intake

Who are the financial supporters of the BDC — Canada Digital Adoption Program (CDAP) Loan?

BDC — Canada Digital Adoption Program (CDAP) Loan is funded by Business Development Bank of Canada (BDC), Government of Canada

What are BDC — Canada Digital Adoption Program (CDAP) Loan's eligibility criterias?

You must have a valid, signed grant agreement with ISED before February 19, 2024. Your digital adoption plan must be completed, and you should be ready to submit your grant claim. Your grant claim must be approved before applying for the BDC 0% interest loan.

BDC — Canada Digital Adoption Program (CDAP) Loan

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Canada

Support for SMEs to adopt new technologies

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grant_single|closingDate February 19, 2024

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Loans and Capital investments

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Business Development Bank of Canada (BDC)
Government of Canada

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Obtain a loan of up to $100,000 to help small and medium-sized enterprises adopt digital technologies and enhance their competitiveness.

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The Canada Digital Adoption Program (CDAP) Loan through BDC offers a zero-interest financial solution for implementing digital technology plans in small and medium enterprises. The terms are structured to support digital transformation efforts while ensuring fiscal responsibility and alignment with business size and needs.

Zero-interest loan of up to $100,000, with a repayment term of 5 years plus an additional 12 months for capital postponement.
Loan amounts vary based on business size: $25,000 to $50,000 for businesses with revenues between $500,000 and $5 million, and $25,000 to $100,000 for businesses with revenues of $5 million or more.
Total borrowing limit of $200,000 per borrowing group.

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Eligible projects for the CDAP grant focus on implementing digital transformation initiatives that help SMEs adopt technology effectively. The funding supports activities directly related to the creation and execution of a detailed digital adoption plan.

Building a detailed digital adoption plan with an ISED-approved partner.
Acquiring and installing new IT equipment to support business digitization.
Updating or expanding existing IT infrastructure to enhance digital capabilities.
Training employees to effectively use new technologies implemented as part of the digital plan.
Engaging in advisory services for further support in specific areas of digital adoption.
Utilizing materials and support services necessary for technology onboarding.

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$ 35,000

Implementing an advanced customer relationship management (CRM) system to streamline operations

$ 40,000

Developing a mobile app to enhance user engagement and loyalty

$ 60,000

Deploying an advanced analytics tool to optimize business processes

$ 32,000

Enhancing e-commerce capabilities through a new digital platform

$ 45,000

Upgrading IT infrastructure for better cybersecurity and data protection

$ 25,000

Implementing a digital payroll system for better financial management

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The eligibility for the Canada Digital Adoption Program (CDAP) Boost Your Business Technology stream is based on specific conditions regarding signed agreements and completed plans.

The applicant must have a valid, signed grant agreement before February 19, 2024.
The applicant must have completed their digital adoption plan and be ready to submit their grant claim.
If the grant claim is approved, the applicant may apply for the 0% interest loan and/or a wage subsidy to hire an employee.
The business must have at least $500,000 in annual income as of the last fiscal year-end if applying for the 0% loan.
The business's gross revenues determine the potential loan amount eligibility.

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Eligible applicants for the Canada Digital Adoption Program (CDAP) 'Boost Your Business Technology' stream are small and medium-sized enterprises (SMEs) that have already signed a grant agreement prior to February 19, 2024. In particular, those who:- Have a valid grant agreement.- Have completed their digital adoption plan and are ready to submit their grant claim.- Have had their grant claim approved and wish to apply for the BDC 0% interest loan and/or a wage subsidy to hire an employee.Applicants who are new, have an incomplete or unsigned grant agreement, or have an expired grant agreement are considered non-eligible.

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The CDAP grant assists small and medium-sized enterprises in adopting digital technologies effectively. It is designed to support businesses in various activities related to enhancing digital capabilities.

Building a comprehensive digital adoption plan with an approved partner.
Acquiring new IT equipment and updating existing technology infrastructure.
Installing advanced technologies to improve business operations.
Training staff on newly integrated digital technologies.
Engaging further advisory services focused on specific aspects of the digital adoption plan.

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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.

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Here are additional relevant details for this grant:

A business can opt to only participate in the grant portion of CDAP without accepting the 0% interest loan.
A loan decision can impact a business's credit score negatively if declined, as part of the consent during the application process.
The 0% loan offer has a term of 5 years with the possibility to postpone principal payments for 12 months, totaling 6 years.
A borrowing group is limited to a maximum loan of $200,000 when applying for multiple businesses.
Companies that do not meet BDC’s creditworthiness criteria may still be declined for a loan even if they pass program eligibility.
You have 6 months post-approval of your digital adoption plan to apply for the BDC loan.