Policy on confidentiality and use of personal and business information
This updated Confidentiality Policy will come into effect on August 4, 2025.
- Our commitment for the confidentiality of your personal and business information
- Types of information we collect
- When and how we collect your personal and business information
- Why we collect and use your personal and business information
- How we store your personal and business information
- To whom we communicate your personal and business information
- Things you can do to control how we process your personal and business information
- Congratulations for getting so far!
Do you need to read this?
Absolutely! This Policy on confidentiality and use of personal and business information describes how personal and business information is collected and processed by BDC in relation with its operating program and activities when:
For example:
- You apply for a loan, investment or advisory services
- You use our online services. For example, if:
- You visit our website
- You subscribe to our email publications
- You apply online for a loan or advisory services
- You use your Client Space
- You apply for a job
- You submit your profile to be part of BDC’s Consultant Network
However, this Policy on confidentiality and use of personal and business information does not apply to the collection and processing of BDC’s employees' personal information.
1. Our commitment to the confidentiality of your personal and business information
Because protecting your personal and business information is important to us, we at BDC have adopted strong principles in that respect.
- We don’t sell your personal or business information to anyone.
- We tell you why we use your personal or business information, and we don’t use it for anything else.
- We limit how much personal or business information we collect, use, communicate and store to what is necessary for our purposes.
- Sometimes, our service providers need access to your personal or business information. They are only allowed to use your personal and business information to provide services on our behalf or to process the information as per our instruction. The only exception is when they have a legal obligation to disclose your personal or business information to the authorities.
- We give you the option to control your personal and business information. For example, we offer you tips on how to control the personal and business information we collect. Our Privacy Coordinator ensures that your privacy and confidentiality concerns, as well as your requests to your personal information, are reviewed and responded accordingly. When appropriate, our Privacy Coordinator also implements the corrections that you may request.
- We may communicate your personal or business information to the authorities without your consent where permitted or required by law.
2. Types of information we may collect
2.1 Personal information
Personal information is information about an identifiable individual.
The personal information we may collect includes:
- Identification information: Like your name, ID card with or without photo, date of birth, gender, citizenship status and self-identification information that you disclosed to us
- Family information: Like marital status, number of dependents
- Contact information: Like your phone numbers, personal address, email addresses
- Financial information about you: Like your income, employment situation, salary, personal assets and liabilities, financial statements, credit history, credit report
- Education and employment information: Like your résumé, level of education, employment, interview notes, remuneration, references
- Website, Client Space, and other platform activities information: Like your activities when you use our website, Client Space, or other digital platforms
2.2 Data considered to be personal information
We collect information about how you use our website or other platforms. Cookies and similar tracking technologies may be linked to your identity and thus is considered personal information. The data we may collect includes:
- The pages of our website viewed
- The date and time when those pages were viewed
- The region where you are connecting from (geolocation)
- How long each page was viewed
- The web browser used (Chrome, Edge, Firefox, Internet Explorer, Opera, etc.), browser settings and the type of device used (Mac or PC, mobile or desktop, etc.),and references from which websites, applications, advertisement or social media you come from before your visit
- The IP address used to access our website
- Preference information about your use of our products, services and content
- The preferred language you have selected
- The interactions you have with us on our website or from advertising and social media
2.3 Business information
Business information is information about your business.
The business information we collect includes:
- Identification information: Like name and trade name of your business
- Contact information: Like positions, names, titles, business addresses, business phone numbers and business email addresses
- Structure information: Like your business corporate structure, the name of your shareholders, directors or guarantors
- Financial and commercial information: Like your business revenue, expenses, assets and liabilities, financial statements, market and industry, business plans, and information allowing us to meet our requirements (know your client, environment)
- Interactions and preferences information: Like data related to the use of our products and services by your business, as well as data from your interactions with us on our website
3. When and how we collect your personal and business information
3.1 We collect personal or business information when you give it to us directly
For example:
- When you apply for a loan, investment, or advisory services
- When you apply for a job (only personal information)
- When you fill in an online form
- When you subscribe to one of our email publications
- Whenever you use online tools and give information about yourself or your business
3.2 We also collect personal, or business information obtained from sources other than yourself
For example:
- From credit reporting agencies, corporations, government institutions or agencies, or authorities by making inquiries as part of our due diligence when you apply for a loan, investment or advisory services and for the continuing administration of your loan, our investment or the advisory services
- From our service providers for web analytics or ads
- From websites/social media pages containing information made public by you or your business
- From data services or databases made publicly available by third parties or that we have an agreement with
3.3 When you are logged in to your Client Space, we record your activities
We keep an electronic log of your activities so that we can detect and review any suspicious activity on your account or interact with you.
3.4 When you browse our website or you are logged in Client Space, we use cookies that track your activities
How we track your activities
When you browse our website or you are logged in Client Space, we track your activities. We may match this information to your specific user profile as soon as you identify yourself on our website.
What cookies are and what we can do with them
Cookies, like pixels and beacons, are tracking technologies that collect information on your web browsing activities. We use first-party cookies to improve your user experience (most websites do).
Our website creates first-party cookies that allow us to:
- Recognize you the next time you visit our website
- Personalize our website, email publications and emails for you or your business
For example, we can know if you have already completed a survey, so we do not ask you to do it again. These cookies are called persistent cookies, because they stay in your browser after you have closed your session.
We also use third-party cookies and other tracking technologies from Google Ads, DoubleClick Floodlight, Meta, LinkedIn Ads, and other third parties for marketing purposes. With these third-party cookies and tracking technologies, we can:
- Automatically create lists about our users' interests based on pages they have visited on BDC’s website and Client Space
- Use this information to target users with specific ads
- Analyze how well our ads perform and optimize our ad campaigns
- Enable business partners to analyze and optimize their advertising campaigns driving traffic to our website
- Share, via our server-side tracking technology, certain information (i.e. encrypted email address, user identification numbers, and other information you provide to us when filling out a form) with advertising platforms only for the purpose of conducting our targeted marketing campaigns
You can disable cookies
You can disable cookies in your browser’s settings. You will still be able to access our website, although some features may not work optimally.
The use of data collected via server-side tracking technology for advertising purposes cannot be disabled by disabling cookies.
3.5 We use Google Analytics to collect data about how you use our website (web analytics).
We use Google Analytics to analyze how users utilize our website.
Our Google Analytics account is linked to other BDC Google marketing platforms, allowing them to use behavioural data from BDC.ca to show you personalized ads of our products and services.
Google Analytics relies on first-party cookies to collect information. Cookies used by Google Analytics will expire two years after your last visit to our website. For more information, consult the Google Analytics website and its privacy policy.
You can opt out of Google Analytics by installing this add-on on your browser.
3.6 This policy does not cover personal or business information you or your business give to social media companies or online payment providers
When you interact with us through social media, for example, on our Facebook, Instagram, or LinkedIn profile, you give information to social media companies and not to us. This information is covered by their own privacy policy. Keep in mind that information you publish on social media can be made public.
When you pay online for our services, you give your payment information to an online payment provider. This information is processed by the online payment provider, and it is covered by its own privacy policy.
4. Why we collect and use your personal or business information
We only collect your personal or business information if it relates directly to operating programs or BDC’s activities and for the following purposes:
4.1 For business purposes
To identify you or your business
We use your personal or business information to identify you or your business.
To register you or your business
We use your personal or business information to register you, notably for an event.
To communicate with you or your business
We use your personal or business information to communicate with you and to answer your questions.
To determine if you or your business are eligible for a loan, investment or specific services
When you apply for a loan, investment or request a specific service from BDC or to establish your eligibility for an offer, we use your personal and business information as part of our due diligence process to determine if you or your business meet the required conditions. This may include the validation of your credit worthiness, your identity, your age, or your business assets and liabilities, and other financial information.
To decide if you are eligible for a loan, investment or a service
We use your personal or business information to decide the eligibility for any loan, investment or service and, thereafter, to manage any loan, investment or services.
To get deeper knowledge, make predictions, or generate recommendations through advanced analytics
We use your personal or business information to perform advanced analytics. We examine this information using sophisticated techniques and tools to get deeper knowledge, make predictions, identify suspicious activities, or generate recommendations.
To develop new products and services
We may use your personal or business information to help develop new products and services.
To develop new internal tools and models
We use your personal and business information to develop new tools and models, so that BDC can improve its operating programs or activities for the benefit of its client.
To advise you or your business when you or your business request our products or services and to improve your experience
We use your personal or business information to provide tailored advice and direct you towards the most appropriate resources, products and services upon request. This way, we make sure our advice, resources, products and services are best suited to you or your business profile.
For example, we could direct you to our productivity benchmarking tool if you wish to find out where your business stands compared to other Canadian businesses in your sector.
To evaluate your application for BDC awards or recognition programs
If you or your business apply for a BDC award or recognition program, we use your personal and business information to evaluate your application and to select and contact the winners.
To protect you and us against errors or fraud
When you use your Client Space, we keep a log of all your activities. This allows us to detect suspicious activity on your account.
4.2 For web analytics purposes
To analyze how you use our website and Client Space to improve your experience
We collect and analyze data about web traffic and visits on our website and Client Space. This data may be combined with previously collected personal or business information to gain a deeper understanding of how to optimize the user experience on our website. This is called web analytics. Web analytics allow us to:
- Understand how users utilize our website or Client Space
- Improve our website or Client Space
- Further develop our business and operations
4.3 For marketing purposes
To promote our products and services to you
We send you promotional emails only if you have expressly or implicitly agreed to receive them. For example, if you have subscribed to one of our newsletters or if you have an existing business relationship with us.
You can revoke your consent at any time. For example, you can always opt out of one of our newsletters.
We also collect and use your data to know what your interests are, to promote our products and services to you or your business, and to offer you or your business products or services that are more relevant to you or your business.
To improve our marketing operations and performance
We want to understand if our ads, content, campaigns, events, sponsorships, partnerships, etc. are optimized. The personal and business information collected as you interact with us helps us do so.
To offer you products and services that meet your needs
We use your personal or business information to offer you or your business personalized advice and financing opportunities.
4.4 For hiring purposes (only personal information)
To allow you to apply for jobs
We use your personal information to evaluate your job application and to contact you, if needed.
4.5 For BDC’s Consultant Network
To allow you to submit your profile to become part of the BDC’s Consultant Network
We use your personal or business information to evaluate your profile and to contact you, if needed.
5. How we store your personal and business information
5.1 Where we store it
Your personal or business information can be stored outside Canada because we use third-party service providers to store and process your personal or business information.
5.2 How we keep it secure
We take stringent measures to ensure that your personal and business information is protected and handled properly.
5.3 How long we store it for
We have retention policies that defines how long we keep personal and business information, ensuring compliance with the Privacy Act and banking industry requirements.
6. To whom we communicate your personal or business information
6.1 Our employees or representatives may view your personal or business information on a need-to-know basis
Our employees or representatives may view your personal or business information for their work for BDC’s programs and activities.
They will not view your personal information for any other reason.
6.2 Other financial institutions or financial partners may view your personal or business information
Other financial institutions or financial partners may view your personal or business information if we partner with them in a common loan, investment or loan guarantee request. Credit reporting agencies may view your personal or business information for credit history analysis by BDC and other financial institutions. We may also share your personal or business information with financial institutions to prevent or control fraud or when you are in breach of a financing agreement with BDC.
6.3 Our service providers may process your personal or business information
Our service providers may need to access or process your personal or business information. They are not authorized to disclose your personal or business information for any reason other than providing the services we ask from them, or if they have a legal obligation to do so.
We obtain the following services from our service providers:
- Processing background checks
- Processing credit verification and credit history analysis
- Conducting analytics
- Processing your payments
- Creating targeted campaigns for our products and services on advertising platforms
- Managing email or messages delivery
- Distributing useful content
- Performing legal services
- Ensuring security and access to our systems
- Electronically signing documents
Some of our service providers are based outside Canada and some in the United States. They may store or process your personal and business information on our behalf. In certain instances, our service provider may be required to share your personal or business information with law enforcement or regulatory authorities. For instance, under the USA Patriot Act, they might be forced to disclose your personal or business information to U.S. authorities if they suspect that it is linked to terrorism or money laundering activities.
6.4 We may communicate your personal or business information with credit reporting agencies
We may exchange personal or business information with consumer and credit reporting agencies on an ongoing basis, including, but not limited to, information about payment history, missed payments, outstanding balance or other defaults to help maintain the accuracy and integrity of the credit reporting system.
This information may then be used and incorporated by credit reporting agencies in their database.
6.5 We may share your personal or business information with law enforcement or regulatory authorities
We may share your personal or business information with law enforcement or regulatory authorities in case of actual or suspected fraud, money laundering, terrorist financing, or sanction violations.
6.6 We may communicate your personal or business information in certain circumstances
In certain cases, we may communicate your personal or business information to others without your consent:
- If we are legally required to do so. For example, if we receive a court order to communicate your personal or business information.
- If it is impossible to get your consent and privacy laws allow us to communicate your personal information. For example, if it is necessary for the protection of public interest or to collect money you owe to us (overdue accounts).
7. Things you can do to control how we process your personal and business information
7.1 You can access your personal or business information and ask us to correct any error
You can access your personal information at any time
To do so, please contact our Privacy Coordinator.
You can ask us to correct any error or omission
You can ask us to make corrections to personal information that we have that is not accurate. If we do not make these corrections, you can ask us to add notations to your personal information to explain why certain corrections you asked were not made. Finally, you can ask us to notify certain people about these corrections or notations. To do so, please contact our Privacy Coordinator
7.2 You can express your privacy concerns and file a complaint
You can express your privacy concerns by calling us or writing to us
To do so, please contact our Privacy Coordinator.
To file a privacy complaint, you must send an email to our Privacy Coordinator
This ensures that we keep a record of your complaint. Our Privacy Coordinator will respond to you as soon as possible.
Note that your complaint must be about your privacy or about how we deal with your personal information.
If you are not satisfied with how we respond to your complaint, you can contact the Office of the Privacy Commissioner of Canada.
8. Congratulations for getting so far!
We did our best to make this policy as easy to read and understand as possible. Here are a few more things you should know:
8.1 We may change this policy at any time
Because privacy concerns, business and legal requirements continually evolve, we may need to change this policy in the future. We will provide notice of material changes to this policy, for example, by posting a notice on our website, or on your Client Space, or by sending you an e-mail explaining that the privacy policy has been updated.
What if the policy has changed?
If this policy has changed, you will be governed by the updated version of the policy.
8.2 How to read and interpret this Policy on confidentiality and use of personal and business information
This policy is governed by the laws of Canada. This policy complies with the Privacy Act of Canada.
8.3 Any questions?
Feel free to contact us:
For questions or comments about this policy
For more information about how we deal with your personal information
To access or modify your personal information
Here is how you can contact us:
- Send us a message at bdc.ca
- Call our Client Contact Centre at 1-877-232-2269
- Mail us a letter:
Attn: Privacy Coordinator
Business Development Bank of Canada
5 Place Ville Marie, Ground floor Montreal, Quebec H3B 2G2