BDC Financing — Small Business Loan

• The business must be based in Canada.
• The business must have been generating revenue for more than 24 months.
• The business must be generating profits.
• The business must have a good credit history.

Who is eligible?

• Businesses based in Canada that have been generating revenue for over 24 months

Who is not eligible

• Companies where a shareholder holding 25% or more of the shares does not reside in Canada (not eligible for online application, an alternative process applies).

Eligible expenses

• Purchase of inventory
• Development of new products
• Enhancement of energy efficiency
• Marketing campaign expenses
• Supplier payments
• Hiring or training of employees
• Costs for obtaining industry-specific certifications
• Expenses to support expansion into new markets

Eligible geographic areas

• Based in Canada

The evaluation and selection criteria for the BDC’s small business loan involve meeting eligibility requirements and passing the due diligence review.

• Canadian-based business with operating revenues for at least 24 months
• Company’s shareholders must have reached the age of majority
• Good credit history for the company and its shareholders
• Completion of the online loan application process
• Authorization and consent from required individuals
• Provision of necessary business and personal information

• Approval timeframes differ by amount requested; loans under $100,000 can be approved in less than 10 days, while those up to $350,000 may take up to 30 days.
• No application or prepayment fees are charged for loans under $100,000; certain fees may apply to higher loan amounts.
• Interest rates are individually determined and may vary based on business and personal client information.
• The application process requires both business and personal details, including government-issued photo ID and business registry documents.