Closed
Highly Affected Sectors Credit Availability Program (HASCAP)
Low-interest financing for hard-hit businesses
Record updated
- Funding available
- $ 25,000 - $ 1,000,000
- Deadline
- Unspecified
- Location
- Alberta, Canada
Overview
HASCAP offers low-interest, government-guaranteed term loans to help hard-hit Canadian businesses manage short-term liquidity needs. It supports working capital and operating expenses, with loans of $25,000 to $1 million CAD and a maximum combined amount of $6.25 million across all legal entities.
At a glance
Funding available
- Maximum funding
- $1,000,000
- Minimum funding
- $25,000
- Increase operational productivity
- Strengthen organizational capacity
- Ensure financial sustainability
Eligible candidates
- Location
- Alberta
- Eligible Industries
- All industries
- Annual revenue
- All revenue ranges
- Organisation size
- All organization sizes
- Audience
- All groups
- Legal structures
- For-profit business
Receipt of requests is now closed
Get notified about updates to this grant.
Availability timeline
2023
Periods: 1
Eligibility
Who is eligible?
- Canadian businesses
- Businesses from all sectors
- Existing ATB business clients
Who is not eligible
- Businesses that are not existing ATB clients
- Businesses that do not meet the required revenue decline
- Businesses seeking refinancing or non-standard debt repayment support
Eligible expenses
- Payroll, rent, utilities, taxes, and scheduled debt repayments
- Other fixed operating costs
- Working capital and short-term liquidity needs
- Inventory purchases, accounts payable, and delayed receivables
Ineligible Costs and Activities
- Debt repayment outside normal monthly payments
- Refinancing
Eligible geographic areas
- Canada
Activities funded
- Supporting short-term liquidity and working capital needs
- Covering recurring operating expenses and other business continuity costs
How to apply
- Step 1: Confirm eligibility
- Check that the business meets the revenue decline and status requirements.
- Make sure ATB is the primary bank or lender.
- Step 2: Prepare supporting documents
- Complete the required CRA attestation forms.
- Gather financial statements and any other requested support documents.
- Step 3: Submit the application
- Work with an ATB business representative or client care team to submit the application.
- Provide all required information for processing.
Documents Needed
- CRA attestation forms showing the required revenue decline
- Financial statements
Selection criteria
- Revenue decline of at least 50% during three months
- Business viability before the COVID-19 impact
- Required supporting documents provided with the application
Processing and Agreement
- Applications are reviewed through the participating financial institution
- Applicants may be asked to provide supporting documents during processing
- Approval depends on meeting the program’s required conditions
Additional information
- Applications had a deadline of March 31, 2022.
- The program is supported by BDC through participating financial institutions.
- ATB business clients could contact their regular representative or client care team for assistance.
Contacts
Official sources
Frequently Asked Questions about the Highly Affected Sectors Credit Availability Program (HASCAP) Program
What is the Highly Affected Sectors Credit Availability Program (HASCAP)?
HASCAP offers low-interest, government-guaranteed term loans to help hard-hit Canadian businesses manage short-term liquidity needs. It supports working capital and operating expenses, with loans of $25,000 to $1 million CAD and a maximum combined amount of $6.25 million across all legal entities.
How much funding can be received?
Highly Affected Sectors Credit Availability Program (HASCAP) Funds up to $1,000,000 of admissible expenses.
Who is eligible for the Highly Affected Sectors Credit Availability Program (HASCAP) program?
To be eligible for the Highly Affected Sectors Credit Availability Program (HASCAP) program, you must:
Canadian business affected by COVID-19
Minimum 50% revenue decline
Existing ATB business client
What expenses are eligible under Highly Affected Sectors Credit Availability Program (HASCAP)?
Payroll, rent, utilities, taxes, and scheduled debt repayments
Other fixed operating costs
Working capital and short-term liquidity needs
Inventory purchases, accounts payable, and delayed receivables
Who can I contact for more information about the Highly Affected Sectors Credit Availability Program (HASCAP)?
You can contact Business Development Bank of Canada (BDC) or by phone at 1-800-332-8383.
Where is the Highly Affected Sectors Credit Availability Program (HASCAP) available?
The Highly Affected Sectors Credit Availability Program (HASCAP) program is available the province of Alberta.
Is the Highly Affected Sectors Credit Availability Program (HASCAP) a grant, loan, or tax credit?
Highly Affected Sectors Credit Availability Program (HASCAP) is a Loans and Capital investments