BDC Financing — Technology
Canada
Loan to purchase or upgrade technology
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
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
Get a loan with flexible repayment terms to cover up to 100% of the cost of investing in information and communications technology such as hardware, software and related consulting services.
grant_single_labels|projects
This funding program is provided by the Business Development Bank of Canada (BDC). It is typically available to companies across Canada, given BDC's mandate to support Canadian businesses.
- Available to businesses located anywhere in Canada.
grant_single|admissibleProjectsExample
$300,000
Creating an e-commerce platform to increase online sales
$180,000
Implementing a CRM system to enhance customer relationship management
$150,000
Launching a new interactive website to engage community members
$350,000
Implementing a new ERP system to enhance operational efficiency
$200,000
Adopting advanced cybersecurity measures to protect business operations
$250,000
Upgrading network infrastructure for improved security and performance
grant_single_labels|admissibility
Eligibility for this loan is determined by specific requirements related to the business profile and its financial operations.
- The business must have been generating revenues for 12-24 months.
- The business must be investing in technology to improve competitiveness and optimize performance.
- The application is subject to approval and specific conditions apply.
- The loan offers preferred terms and conditions for amounts over $350,000.
- Business solutions are available specifically for Indigenous entrepreneurs or newcomers to Canada.
grant_eligibility_criteria|who_can_apply
This program is aimed at assisting various entrepreneurs in Canada, including but not limited to Indigenous and newcomer entrepreneurs, by providing preferential loan terms to enhance business competitiveness. Eligible applicants can range from small businesses seeking to invest in technology to tech companies aiming to drive growth and productivity. The loans can cover costs for hardware, software, digital marketing, and advisory services.
grant_eligibility_criteria|eligible_expenses
This grant provides financing for technology and digital initiatives to enhance business competitiveness and productivity. Eligible projects can involve purchasing new hardware, investing in software, expanding digital marketing, and obtaining expert advisory services.
- Purchase of hardware including servers, networks, or computers.
- Investment in software solutions of various sizes, such as ERP, CRM, HR, and accounting systems.
- Development and enhancement of digital marketing strategies, including new websites, e-commerce platforms, or social media campaigns.
- Obtaining advisory services for IT planning, strategy, security, and online sales.
grant_eligibility_criteria|zone
The loan covers specific expenses related to technological enhancements and business improvements.
- Purchase of hardware such as servers, networks, or computers.
- Investment in software solutions like ERP, CRM, HR, or accounting.
- Expenses for digital marketing including a new website, e-commerce, or social media.
- Costs for advisory services related to IT planning, strategy, security, or online sales.
grant_single_labels|criteria
The evaluation and selection of projects for this loan are determined by specific criteria focused on enhancing competitive performance and strategic alignment with loan objectives.
- Strategic alignment with investment in technology to drive growth and productivity.
- Demonstrated capability to utilize funds for specified categories such as hardware, software, digital marketing, and advisory services.
- Potential to achieve business diversification and enhance service offerings.
- Ability to create meaningful job opportunities for underrepresented groups.
- Compliance with BDC’s terms and conditions for preferred loans.
grant_single_labels|register
- Step 1: Assess Eligibility
- Ensure your business meets the criteria for BDC’s technology loans, such as being a tech company or requiring tech equipment.
- Confirm your business has been generating revenue for 12-24 months.
- Step 2: Gather Necessary Documentation
- Collect financial statements and projections to demonstrate your business's financial health.
- Prepare a project plan outlining how the loan will be used for technology investments.
- Step 3: Review BDC's Loan Terms
- Understand the terms and conditions for the loan, including up to 100% financing and principal payment postponement options.
- Step 4: Application Submission
- Visit BDC’s official website to start your online application.
- Fill in the application form, providing detailed business and personal information.
- Attach all necessary documents as per the application requirements.
- Submit the application through the online portal.
- Step 5: Confirmation and Follow-Up
- Receive a confirmation email with your application details.
- Note down any reference numbers and keep a record for future correspondence.
- Step 6: Application Review and Response
- Wait for BDC to review your application; they may contact you for additional information or clarification.
- Respond promptly to any requests from BDC to facilitate the application process.
grant_single_labels|otherInfo
Here are additional relevant details for this loan:
- Applicants can take advantage of the BDC's Accelerator Loan Guarantee to facilitate access to funding.
- There is an opportunity to postpone principal payments at the start of the loan, providing more time for financial adjustment.
- Businesses can apply for up to 100% financing to cover the project costs fully.
- Loans include investing in technology to help optimize business performance, growth, and profitability.
- Loan terms and conditions are stable and will not change without due cause, offering peace of mind to the borrowers.
- BDC offers solutions specifically designed for Indigenous entrepreneurs or newcomers to Canada, fostering inclusive entrepreneurship.
- Loans feature preferred terms and conditions for amounts exceeding $350,000.
- Applicants can obtain funds quickly through a streamlined loan process, ensuring minimal disruption to business operations.
Apply to this program
Empower Your Business with Strategic Financial Support
Access up to 100% financing with tailored loan solutions designed to cover the cost of your specific projects. Postpone principal payments at the loan’s inception, allowing investments in technology to drive growth, optimize processes, and elevate business profitability.
In-Depth Understanding of Our Competitive Advantage Loan Program
Our Competitive Advantage Loan Program is meticulously crafted to empower businesses across various sectors, particularly those in technology and inclusive entrepreneurship. This strategic financial support facilitates the acquisition of essential technology hardware and software, critical for modernizing operations and staying competitive in today's fast-paced market environment. With potential loans exceeding $350,000, businesses can enjoy preferred terms and conditions, making this an enticing option for those looking to innovate and expand efficiently.
Projects financed through this program can encompass a wide range of technology initiatives, from purchasing and upgrading hardware—such as servers, computers, and sophisticated network equipment—to investing in cutting-edge software solutions that streamline enterprise resource planning (ERP), customer relationship management (CRM), human resources, and accounting systems. Additionally, businesses can leverage this financing to expand their digital marketing strategies, enhancing their online presence through revamped websites, robust e-commerce platforms, and dynamic social media campaigns.
Moreover, this loan program covers the costs associated with advisory services, providing invaluable access to expertise in IT planning, strategic transformation, security enhancement, and advanced online sales tactics. This comprehensive approach ensures that businesses not only acquire new technologies but also effectively integrate them into their operations to maximize return on investment and achieve sustainable growth.
The Competitive Advantage Loan Program is particularly beneficial for small to medium enterprises (SMEs) in Canada, striving to broaden their market reach and increase operational resilience. By postponing principal payments at the loan's start, businesses can focus on harnessing the momentum of their projects without immediate financial strain. This financial structure aids in cushioning any potential disruptions to daily operations, ensuring that business growth remains uninterrupted.
Our program is sensitive to the diverse entrepreneurial landscape in Canada, inclusive of Indigenous entrepreneurs and newcomers, offering tailor-made solutions that address specific challenges and opportunities unique to these groups. This inclusiveness reflects a commitment to fostering a diverse and thriving economic environment where every entrepreneur has the opportunity to succeed and contribute to the broader community.
As articulated by Corinne Kessel, a successful business owner who benefited from this program, the support provided has been pivotal in diversifying services and creating substantial employment opportunities, particularly for women and youths. Such testimonials underscore the transformative potential of our loan offerings, catalyzing economic empowerment and societal contributions through strategic investments.
In conclusion, the Competitive Advantage Loan Program is not merely a financial instrument; it is a catalyst for business development and innovation. By facilitating access to essential resources, this program supports Canadian businesses in achieving their competitive edge, ultimately contributing to a robust and sustainable economic landscape. Interested entrepreneurs are encouraged to apply and explore how this program can help realize their business aspirations, driving not just individual success, but collective advancement for the Canadian economy.
