How can I apply for the Business accelerator loan program?

Contact a partner financial institution to find out whether the Business accelerator loan program is right for your business and how to apply for a loan.

I’m a BDC client, can I apply directly through you?

No, you must apply through one of our partner financial institutions and they must be your primary lender.

Who are the partner financial institutions I can contact?

Currently, the Business accelerator loan program is offered through: Alterna Savings (Available to Ontario-based clients only) Desjardins Meridian Credit Union (Available to Ontario-based clients only) NLCU RBC Royal Bank® The Toronto-Dominion Bank Vancity Should you wish to learn more about the program and if it is right for you, please contact a representative from these financial institutions.

What are the eligibility criteria to apply for the loan?

The loan is available to all Canadian businesses that have at least 12 months of operation, less than $10 million in revenue and require a working capital loan between $25,000 and $500,000. The loan is managed and disbursed by your financial institution. They will advise you of the eligibility criteria and if your business qualifies.

Can I be eligible for the Business accelerator loan program if I have an existing loan with one of the partner financial institutions?

Yes, provided they are your primary lender. Simply contact your representative at your financial institution for more information.

Where can I get the status of my loan application?

Check with your financial institution, as they are responsible for managing this program and can provide a status on your application. BDC does not have access to the details of your loan application.

What do I do if my business is declined a loan under the Business accelerator loan program?

You will be notified directly by your financial institution. BDC does not have any visibility into the reasons for the declined application. For more information and to discuss the options available to you, contact your financial institution representative.

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