Export Development Canada (EDC) Business Credit Availability Program (BCAP)

The EDC BCAP  provides qualifying Canadian businesses much needed access to working capital for short-term liquidity in response to COVID-19. It is a standardized guarantee program offered by Export Development Canada, with no export sale requirements, and is available to existing Scotiabank and Roynat Commercial Business Banking clients.

Supporting our Commercial Business Banking clients

The Business Credit Availability Program (BCAP) is a standardized guarantee program offered by Export Development Canada (EDC) in response to COVID-19. There are no exporting requirements, and the program is available through Scotiabank and Roynat for our Commercial Business Banking clients. The program is designed for meeting your short-term liquidity/working capital requirements over the next 12 months, such as recurring operational expenses, due to cyclical cash flow. 

If you are a qualifying Scotiabank or Roynat Commercial Business Banking client, the EDC BCAP provides you with access to a maximum 364-day operating credit or cash flow term loan (with possibility to renew for an additional 364 days) of up to $6,250,000: 

  • EDC BCAP is backed by a partial (80%) guarantee from EDC and is for short-term liquidity requirements. 
  • The program is designed to provide short-term capital to sustain operational cash flow, pay for inventory, and cover temporary slowdown in sales and account receivable inflows. 
  • It is not intended for debt repayment, refinancing, shareholder distributions, or dividend payments.

The following eligibility requirements must be met:

  • Be an existing customer of Scotiabank or Roynat.

  • New facilities only (cannot be used to support an existing facility).

  • Loan must be used to sustain operations (not for dividends, debt payment, or refinancing).

  • Canadian business impacted by COVID-19 (export sales not required).

The following businesses are not eligible to apply: 

  • Government organizations or bodies (except for First Nation-owned businesses, which 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 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.

The EDC BCAP is available starting April 17, 2020. If you are a current Scotiabank or Roynat Commercial Business Banking client and interested in applying for the EDC BCAP, please contact your Scotiabank or Roynat Relationship Manager.

The deadline to apply for the EDC BCAP is September 30, 2020. 

We are currently working as quickly as possible to bring this relief measure to our business banking clients' experiencing hardship. This page will be updated shortly with further details on this program. 

Please contact your Agriculture Relationship Manager, Healthcare & Professional Specialist, Automotive Finance Relationship Manager, or Business Banking Relationship Manager to discuss further.

Additional relief measures for commercial business banking clients

We are making available various additional accommodations related to liquidity and financial covenant relief to assist clients who have been impacted by COVID-19. We are offering temporary loan payment deferrals or other forms of short-term support to customers who meet required qualifications.

If your business is experiencing financial hardship as a result of COVID-19, please contact your Agriculture Relationship Manager, Healthcare & Professional Specialist, Automotive Finance Relationship Manager, or Business Banking Relationship Manager. 

Export Development Canada (EDC) Business Credit Availability Program (BCAP) FAQs

The EDC BCAP will provide qualifying Canadian businesses with much needed access to working capital for short-term liquidity in response to COVID-19. It is a standardized guarantee program offered by Export Development Canada, with no export sale requirements, and is available to existing Scotiabank and Roynat Commercial Business Banking clients. 

Financing is provided to our clients through a maximum 364-day operating credit or cash flow term loan (with possibility to renew for an additional 364 days) to sustain operational cash flow, pay for inventory, and cover temporary slowdowns in sales and account receivable inflows.

If you are a qualifying Scotiabank or Roynat Commercial Business Banking client, EDC BCAP provides access to a maximum 364-day operating credit or cash flow term loan of up to $6,250,000.  

There is the possibility to renew for an additional 364 days in which you will be charged an additional 1.8% guarantee fee for the renewal. All renewal approvals are subject to a credit review completed by Scotiabank. 

The EDC BCAP is designed to meet your short-term liquidity/working capital requirements over the next 12 months, such as recurring operational expenses, buying inventory, meeting accounts payable, covering delayed receivables, or other needs due to cyclical cash flow. 

It is not intended for debt repayment, refinancing or dividend payments, or long-term asset purchases.

If you are a Scotiabank or Roynat Commercial Business Banking client and interested in applying for the EDC BCAP, it is available now.  

Please contact your Scotiabank or Roynat Relationship Manager to discuss further. 

If you are a Scotiabank or Roynat Commercial Business Banking client and interested in applying for the EDC BCAP Canada, it is available effective April 17, 2020.  

Please contact your Scotiabank or Roynat Relationship Manager to discuss further. 

To be considered for the EDC BCAP, your application must be received by Scotiabank or Roynat before September 30, 2020. 

Please contact your Scotiabank or Roynat Relationship Manager to discuss further.

The following eligibility requirements must be met:

  • Be an existing customer of Scotiabank or Roynat.

  • New facilities only (cannot be used to support an existing facility).

  • Loan must be used to sustain operations (not for dividends, debt payment, or refinancing).

  • Canadian business impacted by COVID-19 (export sales not required).

Please note, the following businesses are not eligible to apply:

  • Government organizations or bodies (except for First Nation-owned businesses, which 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 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. 

We are committed to working with all of our Commercial Business Banking clients, and supporting you through the BCAP application process, to find the best financing solution.

  • If you are a qualifying Scotiabank or Roynat Commercial Business Banking client, the EDC BCAP 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. 

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

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