BDC Financing — Tech Companies
Canada
Loans for businesses in the technology sector
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateMarch 23, 2022
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Information and cultural industries
- Professional, scientific and technical services
grant_single|grantors
- Business Development Bank of Canada (BDC)
- Government of Canada
grant_single|status
grant_card_status|open
grant_single_labels|preview
Borrow money to help increase working capital, speed up customer acquisition and expand into new markets for your tech company.
grant_single_labels|projects
This financing solution is targeted towards tech companies in Canada, reflecting the BDC's focus on supporting the Canadian technology sector. All regions within Canada are implicitly eligible as there are no specific geographical restrictions mentioned.
- All provinces and territories within Canada.
grant_single|admissibleProjectsExample
$35,000
Calgary
Launch a virtual reality training module for healthcare workers
$15,000
Montreal
Expand online presence and enhance SEO for a tech blog
$20,000
Ottawa
Initiate an e-commerce platform expansion for local artisans
$25,000
Halifax
Upgrade digital infrastructure for a financial cooperative
$25,000
Vancouver
Develop a mobile app to streamline customer service operations
$20,000
Toronto
Implement a new customer loyalty program with advanced analytics
grant_single_labels|admissibility
Eligibility for financing solutions from BDC for tech companies is determined by specific requirements related to the company's revenue model and business status.
- The company must be in the tech industry.
- The company should have 12-24 months of generating revenues.
- The business should ideally support a recurring fees revenue model with monthly revenues of $50,000 or more for specific solutions.
- The applicants can include Indigenous entrepreneurs or newcomers to Canada.
- The business should be at an earlier-stage scale-up or established growth mode.
grant_eligibility_criteria|who_can_apply
This grant opportunity primarily targets Canadian technology companies seeking tailored, non-dilutive financing solutions to support various stages of business growth and development. Eligible applicants include tech-oriented businesses that have been generating revenues for 12-24 months. These companies can include earlier-stage scale-ups looking to secure their market position, as well as established businesses in growth mode. Special financing is accessible for inclusive entrepreneurship, such as Indigenous entrepreneurs or newcomers to Canada.
grant_eligibility_criteria|eligible_expenses
The eligible projects for this financing focus on providing financial support to tech companies aiming to enhance their operations and market position. These projects are designed to assist in growth, customer acquisition, and competitive strategy execution.
- Boosting a company’s growth plan through working capital to accelerate market entry, product development, and staffing expansion.
- Speeding up new customer acquisition by investing in sales, advertising, and digital marketing strategies.
- Surpassing competitors by acquiring another business and expanding into new markets.
grant_eligibility_criteria|zone
The financing solutions cover expenses aimed at boosting growth and expanding market presence for tech companies.
- Working capital to speed up go-to-market, develop new products, and hire staff.
- Investment in sales, advertising, and digital marketing campaigns for customer acquisition.
- Expenses related to acquiring another business or expanding into new markets.
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. BDC offers tailored financing solutions for tech companies with a focus on growth and flexibility.
- Financial stability and growth potential of the tech company.
- Relevant industry experience and expertise in the technology sector.
- Ability to demonstrate a clear growth plan and market positioning strategy.
- Monthly recurring revenues of $50,000 or more for certain financing options.
grant_single_labels|register
- Step 1: Visit the BDC website to access the application form for the grant.
- Step 2: Fill out the required information in the application form accurately.
- Step 3: Submit the completed application form along with any necessary supporting documents.
- Step 4: Await approval from the BDC team, and if approved, finalize the details of the financing agreement.
grant_single_labels|otherInfo
Here are additional relevant details for this financing solution:
- Non-dilutive financing solutions are available, allowing entrepreneurs to access capital without giving up equity.
- Payments schedules can be customized to fit the needs of the business, with options to delay principal payments initially.
- BDC offers expertise and support specifically tailored to technology companies, recognizing their unique earning and spending patterns.
- Flexible financial packages can be created by BDC's Growth & Transition Capital experts, which do not rely on traditional banking ratios or tangible assets.
Apply to this program
Financing for Tech Companies
With specialized financing solutions tailored to the needs of tech companies, the BDC offers non-dilutive financing options that support growth, customer acquisition, and competitiveness. Their flexible payment schedules and unique approach cater to businesses at all stages, ensuring control and flexibility in financing.
Understanding the Grant for Tech Companies
The Business Development Bank of Canada (BDC) provides customized financing solutions for tech companies, recognizing their unique cash flow and revenue models. With a focus on growth, market expansion, and innovation, the BDC offers non-dilutive financing options that empower tech businesses to succeed in a competitive landscape.
Whether you are a startup seeking working capital to accelerate market entry or an established tech firm aiming to scale operations, the BDC's financing can support your growth plans. By providing capital without the need to sell shares or use them as collateral, tech companies can maintain control while accessing the funds necessary for expansion.
The BDC's approach goes beyond traditional financing criteria, considering intangible assets and tech-specific metrics to evaluate a company's financial health. This enables tech companies to secure financing based on their growth potential and market positioning, without the constraints of conventional lending requirements.
One of the key advantages of BDC's financing for tech companies is the flexibility in repayment schedules. With the ability to postpone principal payments at the start of the loan and customize repayment terms, tech businesses can align their financing with their revenue streams and growth projections.
For tech companies with recurring revenue models, the BDC offers specialized financing solutions that cater to the unique nature of subscription-based businesses. By understanding the dynamics of monthly recurring revenues and cash flow cycles, the BDC can provide tailored financing options that support ongoing operations and expansion.
Testimonials from tech industry leaders endorse the effectiveness of BDC's financing in driving growth, revenue generation, and international market presence. Companies like VR Vision and QCD Technology have benefited from BDC's support in meeting demand, expanding their product offerings, and venturing into new markets.
In conclusion, the BDC's grant for tech companies offers a strategic financing vehicle that empowers tech firms to innovate, compete, and thrive in a dynamic business environment. By focusing on specialized solutions, flexible terms, and tailored support, the BDC is a valuable partner for tech companies seeking funding to fuel their growth and achieve their strategic objectives.
