Financial support and resources available for businesses impacted by COVID-19.

Support for businesses impacted by COVID-19.

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: January 25, 2022

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

Please note that all our business centres are closed until further notice for everyone’s protection 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 March 31, 2022 (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.

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.

  • 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).

  • You must have received payments either from the:

    • - Canada Emergency Subsidy (CEWS) and/or
    • - Canada Emergency Rent Subsidy (CERS) and/or
    • - Tourism and Hospitality Recovery Program (THRP) and/or
    • - Hardest-Hit Business Recovery Program (HHBRP) and/or
    • - Canada Recovery Hiring Program (CRHP)

    When you apply, make sure you can demonstrate 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 one of the above-mentioned programs, 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.

  • Other conditions may also apply.


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 November 30, 2021

Frequently asked questions

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