Information to help your business take action during the COVID-19 crisis

We are here to helpLast updated on January 21, 2021

Financial relief for entrepreneurs

Learn more about options for accessing credit to support you through to a more stable time.

Support for businesses

BDC Financing

Working capital Financing

Loans of up to $2 million for businesses directly or indirectly impacted by COVID-19, with flexible repayment terms such as principal postponements for qualifying businesses.

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Small Business Loan

Up to $100,000 online for businesses who have been in operation for at least 24 months and are generating revenues.

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Access to credit through the Business Credit Availability Program (BCAP)

Canada Emergency Business Account (CEBA)

Up to $60,000 interest-free loans for small businesses and not-for profits with a 2019 payroll between $20,000 and $1.5 million, available through most financial institutions.

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Co-Lending Program

Up to $12.5 million for your operational cash flow requirements; available until or before June 2021 (extended).

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EDC Business Credit Availability Program (BCAP) Guarantee

Up to $6.25 million to cover rent, payroll and other operating costs caused by the current crisis; available until or before June 2021 (extended).

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Mid-Market Financing Program

Junior loans ranging between $12.5 million and $60 million for medium-sized businesses particularly impacted by the COVID-19 pandemic; available until or before June 2021 (extended).

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Oil and Gas Sector Financing

This program has been merged with the Mid-Market Financing Program.

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Other relief programs

Large Employer Emergency Financing Facility

Bridge financing providing additional liquidity for large businesses whose needs are not being met to keep operations going through conventional financing during the pandemic.

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New Canada Emergency Rent Subsidy (CERS)

Rent and mortgage support until June 2021 for qualifying businesses who have suffered a revenue drop by subsidizing a percentage of their expenses, on a sliding scale, up to a maximum of 65% of eligible expenses until December 19, 2020. A top-up of 25 per cent is available for organizations temporarily shut down by a mandatory public health order issued by a qualifying public health authority.

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Regional Relief and Recovery Fund

Additional funds for businesses and organizations unable to access other support measures and impacted by the COVID-19 pandemic in sectors key to the regions and to local economies.

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Canada Emergency Wage Subsidy (CEWS)

Employers may be eligible for a subsidy of 65% of employee wages for up to 24 weeks to re-hire workers laid off as a result of COVID-19. This measure is to help create over 1 million jobs and restore employment to the level it was before the pandemic. The Canada Emergency Wage Subsidy is extended until June 2021.

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Highly Affected Sectors Credit Availability Program (HASCAP)

HASCAP – a new program for those businesses hardest hit by the pandemic – was announced by the Government of Canada in late 2020. This new program has not yet been deployed. More details to come in early 2021.

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For questions about BDC’s financing solutions, advisory services or for any other question, write us. One of our representatives will be in touch.

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A number of measures, in addition to access to credit, have been put in place through the Government of Canada’s Economic Response Plan to help you through these trying times. We invite you to consult these pages to find out what measure best fits your needs.

Frequently asked questions

Find answers to the most commonly asked questions on the special programs listed on this page, eligibility and processing times during the COVID-19 pandemic.

BDC products and services

What kind of COVID-19 financing is available through BDC?

If you are already a client, you may be eligible for a postponement of payments for up to 6 months, free of charge (for existing BDC clients with total BDC loan commitment of $1 million or less).
Canadian venture capital firm-backed companies impacted by COVID-19 who may not qualify for many of the federal government relief measures may be eligible for the BDC Capital Bridge Financing Program launched in collaboration with other venture capital firms. BDC could match a current financing round being raised through qualified existing and/or new investors into an eligible Canadian company with convertible notes starting at $250,000. Click here for details and eligibility criteria.
We also offer a variety of other products and services aimed at helping Canadian businesses.

Do you offer grants or subsidies?

No. BDC is a commercial bank offering long-term business financing, paid back with interest.

Do you provide financing for start-ups?

To be eligible for BDC financing when your business is at the start-up phase, you must:

have been in business for at least 12 months,
be generating revenue,
demonstrate realistic market and sales potential,
provide personal or credit references,
demonstrate a reasonable investment of financial resources, and
provide a solid business plan.

If you do not meet our eligibility criteria, we invite you to reach out to our partners who may be better positioned to support you with their programs:

Community Futures
- Delivers small business loans, tools, training and events for people living in rural communities who want to start, expand, franchise or sell a business
Futurpreneur Canada
- For aspiring business owners aged 18-39 years old
- Up to $60,000, collateral-free loans, with a five-year term
- Interest-only payments in the first year; principal + interest payments in years two to five
- All loan recipients also receive mentorship for two years