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 Small Business Banking customers.

If you are a qualifying Scotiabank Small Business Banking customer, the BDC BCAP provides you access to a non-revolving amortizing term loan of up to $312,500.

• Maximum loan amount of $312,500 is subject to business revenues under $1,000,000 and Scotiabank’s standard approval requirements. 
• Medium- to long-term loans.
• 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.
• Small Business Banking customers with revenues above $1,000,000 may be eligible for increased loan amounts. Please contact your Small Business Advisor or Branch Manager to discuss further. 

The BDC BCAP is designed to provide access to working capital to eligible businesses 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 Small Business Banking customer and interested in applying for the BDC BCAP please contact your Scotiabank Small Business Advisor or Branch Manager to discuss further.

BDC BCAP applications must be received and approved by Scotiabank on or before December 31, 2021. Please contact your Scotiabank Small Business Advisor or Branch Manager to discuss further.

The following eligibility requirements must be met:

• Be an existing Scotiabank Small Business customer and Scotiabank is your primary bank or primary lender.
• Canadian business impacted by COVID-19.
• Loan must be used 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.
  

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.

Scotiabank Small Business Banking customers can apply for both the CEBA and the BDC BCAP. Please contact your Scotiabank Small Business Advisor or Branch Manager to discuss further.