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.
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 low-interest loan 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.
Program dates
The program will be available at some participating financial institutions as of February 1, 2021 until June 30, 2021.
Eligibility
- 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.
- The loan will be used to continue or resume operations.
- The loan cannot be used to pay or refinance existing
- Your business is Canadian based.
- Other eligibility requirements may apply.
Learn More
https://www.bdc.ca/globalassets/digizuite/28337-hascap-garantee-factsheet.pdf
