The Business Development Bank of Canada Business Credit Availability Program

As part of the Small and Medium-Sized Enterprise Loan and Guarantee Program introduced by the Government of Canada, eligible businesses can access support through a new Business Development Bank of Canada (BDC) Business Credit Availability Program (BCAP). The program provides access to working capital to eligible businesses that have been impacted by COVID-19, and it is available through Scotiabank for our Commercial Business Banking clients. 

If you are a qualifying Scotiabank Commercial Business Banking client, the BDC BCAP provides you with access to a non-revolving amortizing term loan of up to $12,500,000.

  • Medium-to long-term loans with amortizations up to 20 years.
  • Loan is being financed 80% by the BDC, and it is exclusively for your operational cash flow requirements.
  • The program is intended to support bridging businesses’ operating expenses (i.e., payroll, rent, utilities, taxes and other fixed costs), until cash flows resume back to pre-COVID conditions.
  • Eligible businesses may obtain financing of up to $12,500,000. The maximum finance amount, including qualifying for terms, will be based on business revenues and Scotiabank standard lending terms for Commercial Business Banking clients.

The following eligibility requirements must be met:

  • Be an existing Scotiabank Commercial Banking client and Scotiabank is your primary bank or primary lender.
  • Canadian business impacted by COVID-19.
  • The program is intended to support bridging businesses’ operating expenses (i.e., payroll, rent, utilities, taxes and other fixed costs), until cash flows resume back to pre-COVID conditions.

Please note the following businesses are not eligible to apply:

  • Government organizations or bodies (First Nation owned businesses are eligible to apply), or government-owned entities.
  • Unions, charitable, religious or fraternal organizations or entities owned by such organizations except registered T2 or T3010 corporations that generate a portion of revenue from sales of goods or services.
  • Entities that exist as a fundraising vehicle for charities.
  • Entities owned by individuals holding political office.
  • Entities that promote violence, incite hatred or discriminate on-the-basis of race, national or ethnic origin, color, religion, sex, age, or mental or physical disability.

Applying for the BDC BCAP:

The BDC BCAP is now available. If you are a current Scotiabank Commercial Business Banking client and interested in applying for the BDC BCAP, please contact your Scotiabank Relationship Manager. The deadline to apply and obtain approval for the BDC BCAP is September 30, 2020.


The Business Development Bank of Canada Business Credit Availability Program FAQs

I have questions about the Business Development Bank of Canada Business Credit Availability Program:

Through the new Small and Medium-Sized Loan and Guarantee Program introduced by the Government of Canada, the Business Development Bank of Canada (BDC) is offering the Business Credit Availability Program (BCAP). The program provides access to working capital to eligible businesses that have been impacted by COVID-19, and it is available through Scotiabank for our Commercial Business Banking clients. 

If you are a qualifying Scotiabank Commercial Business Banking client, the BDC BCAP provides you with access to a non-revolving amortizing term loan of up to $12,500,000.

  • Medium- to long-term loans with amortizations up to 20 years.
  • Loan is being financed 80% by the BDC, and it is exclusively for your operational cash flow requirements.
  • The program is intended to support bridging businesses’ operating expenses (i.e., payroll, rent, utilities, taxes and other fixed costs), until cash flows resume back to pre-COVID conditions.
  • Eligible businesses may obtain financing of up to $12,500,000. The maximum finance amount, including qualifying for terms, will be based on business revenues and Scotiabank standard lending terms for Commercial Business Banking clients.

The BDC BCAP is designed to provide access to working capital to eligible businesses that that have been impacted by COVID-19. The program is intended to support bridging businesses’ operating expenses (i.e., payroll, rent, utilities, taxes and other fixed costs), until cash flows resume back to pre-COVID conditions.

The BDC BCAP is available starting April 27. If you are a Scotiabank Commercial Business Banking client and interested in applying for the BDC BCAP please contact your Scotiabank Relationship Manager to discuss further.

If you are a Scotiabank Commercial Business Banking client and interested in applying for the BDC BCAP please contact your Scotiabank Relationship Manager to discuss further.

BDC BCAP applications must be received and approved by Scotiabank before September 30, 2020. Please contact your Scotiabank Relationship Manager to discuss further.

I have questions about the eligibility for the Business Development Bank of Canada Business Credit Availability Program:

The following eligibility requirements must be met:

  • Be an existing Scotiabank Commercial Business Banking client and Scotiabank is your primary bank or primary lender.
  • Canadian business impacted by COVID-19.
  • Loan must be used to support the day-to-day operation of the business.

Please note the following businesses are not eligible to apply:

  • Government organizations or bodies (First Nation owned businesses are eligible to apply), or government-owned entities.
  • Unions, charitable, religious or fraternal organizations or entities owned by such organizations except registered T2 or T3010 corporations that generate a portion of revenue from sales of goods or services.
  • Entities that exist as a fundraising vehicle for charities.
  • Entities owned by individuals holding political office.
  • Entities that promote violence, incite hatred or discriminate on-the-basis of race, national or ethnic origin, color, religion, sex, age, or mental or physical disability.

As per the requirements outlined by the Government of Canada, the business is required to be an existing Canadian business with a Canadian physical address, associated with a Canadian dollar operating account.

I have questions about the different government relief programs:

We are committed to working with all of our Commercial Business Banking clients and supporting you to find the best financing solution for your business. The BDC BCAP is longer-term capital to help steady the company; whereas the EDC BCAP is for short-term capital to meet day-to-day operational cash flow needs.

  • If you are a qualifying Scotiabank Commercial Business Banking client, the BDC BCAP provides you with access to a non-revolving amortizing term loan of up to a $12,500,000.
  • If you are a qualifying Scotiabank Commercial Business Banking client, the EDC BCAP Guarantee provides you with access to a maximum 364-day operating credit or cash flow term loan of up to $6,250,000, with 80% guaranteed by EDC, with the possibility of renewal for an additional 364 days.

Yes, subject to each program’s eligibility requirements. Please contact your Scotiabank Relationship Manager to discuss further.