Highly Affected Sectors Credit Availability Program (HASCAP) Guarantee

Businesses heavily impacted by COVID-19 can access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs.

Last update: November 23, 2021

Looking for different financing options? See all COVID-19 programs.

Please note that most of our business centres are open by appointment only and all visitors are required to be fully vaccinated to visit any BDC offices. We have put in place specific measures to protect everyone and to reduce the spread of COVID-19. If you are a BDC client, please contact your BDC representative directly or log in to your Client Space account. If you are an entrepreneur seeking assistance, we invite you to write or call us at 1-877-232-2269, weekdays from 8 a.m. to 6 p.m. (ET).

Is this the right financing for my business?

These loans are for small and medium-sized businesses that have seen their revenues decrease by 50% or more as a result of COVID-19.

Up to $1 million

The guarantee covers amounts ranging from $25,000 to $1 million to ensure a degree of continuity for your business through the pandemic.

Guaranteed loans

The Government of Canada has mandated BDC to provide a guarantee to your financial institution for 100% of the value of a new term loan, to increase your company’s ability to access new credit.

Flexible and competitive terms

Benefit from a 4% interest rate and a repayment term of up to 10 years.  

Up to a 12-month postponement of principal payments at the start of the loan.

How to apply

Contact your primary financial institution to find out more.  Important: You can apply at one financial institution only.

Consult the list of participating financial institutions

Program dates

The HASCAP Guarantee is available until December 31, 2021 (extended).

Contact your primary financial institution to apply for this loan. Your primary financial institution is responsible for managing this program, only it can provide a status on your application. BDC cannot access the details of your request. The program is now available at the following participating financial institutions.

Program overview

For more information on the HASCAP Guarantee, view this webinar.

Is my business eligible?

Eligibility requirements

Your primary financial institution will determine whether you qualify for this program, based on the eligibility criteria established by the Government of Canada.

Neither BDC nor your financial institution has the authority to grant exceptions to eligibility criteria.

  • Your business is Canadian based.

  • Your business must have been financially stable and viable prior to the current economic situation.

  • You must have received payments either from the Canada Emergency Subsidy (CEWS) or the Canada Emergency Rent Subsidy (CERS) by having demonstrated a minimum 50% revenue decline for at least three months (not necessarily consecutive) within the eight-month period prior to the date of the HASCAP Guarantee application.

    If your business does not qualify for CEWS and CERS, but otherwise meets all HASCAP eligibility criteria, you must provide financial statements that reflect at least three months (not necessarily consecutive) in which monthly year-over-year revenue decreased by at least 50% within the eight-month period prior to the date of the HASCAP Guarantee application.

  • The loan will be used to continue or resume operations.

  • The loan cannot be used to pay or refinance existing debts.

  • Minimum risk ratings will apply, varying by size of new loan.

  • You can apply for a loan under the HASCAP Guarantee for each legal entity you own, up to a maximum combined amount of $6.25 million (all legal entities combined).

  • Other conditions may also apply.

One-page HASCAP Guarantee reference sheet

Download this one-page HASCAP Guarantee reference sheet and have it on hand to help guide your conversation, as you explore ways that the guarantee can help your financial institution consider your request.


Contact your primary financial institution to apply

The program is now available at participating financial institutions.

The list will be updated regularly.

Looking for a different financing solution for your business?

See how BDC can help

Program statistics to date

Total cumulative number of loans through HASCAP.

View detailed statistics 




*Non audited summary data as of September 30, 2021

Frequently asked questions

Here are some answers to questions you may have about the HASCAP Guarantee.