Business Credit Availability Program (BCAP)

The Government of Canada has introduced the Business Credit Availability Program (BCAP) to help Canadian businesses obtain financing during the current period of significant uncertainty.

BCAP will support access to financing for Canadian businesses in all sectors and regions. Through this program, Export Development Canada (EDC) and the Business Development Bank of Canada (BDC) will provide direct lending and other types of financial support.

For additional information on any of the BCAP programs or to apply, Businesses should contact their primary lender, where they have a pre-existing relationship. Businesses that are impacted can contact them by phone or email to find out about their application process.

BCAP includes the following programs:

The Canada Emergency Business Account (CEBA)

CEBA provides much needed credit for small businesses to pay for immediate operating costs such as payroll, rent, utilities, insurance, property tax, or debt service.  It is 100 per cent funded by the Government of Canada.

This program is now available at various financial institutions and credit unions.

Loan Guarantee for Small and Medium Enterprises

EDC Loan Guarantee for Small and Medium-Sized Enterprises

This program provides credit and cash flow term loans to small and medium-sized enterprises. Canadian businesses in all sectors that were otherwise financially viable and revenue generating prior to the COVID-19 outbreak are eligible to apply.

It allows financial institutions to issue operating credit and cash flow term loans of up to $6.25 million to existing clients, with 80 per cent guaranteed by EDC. 

This money is to be used for operational expenses, not for dividend payouts, shareholder loans, bonuses, stock buyback, option issuance, increases to executive compensation or repayment/refinancing of other debt.

This program is now available at various financial institutions and credit unions.

BDC Co-Lending Program for Small and Medium Enterprises

This program provides term loans for operational and liquidity needs of businesses, which could include interest payments on existing debt. Similar to the EDC program, this program is available to businesses that were financially viable and revenue-generating prior to the COVID-19 outbreak.

The program is designed in three segments to target support to different business sizes.

Loans would be interest-only for the first 12 months, with a 10-year repayment period.

Applications details will be made available in the days to come by financial institutions.

Role/Description of BDC and EDC

As part of BCAP, the Business Development Bank of Canada (BDC) and Export Development Canada (EDC), both financial Crown corporations, are working closely with private sector lenders to improve access to financing for Canadian businesses.

BDC helps create and develop strong Canadian businesses through financingadvisory services and capital, with a focus on small and medium-sized enterprises.

More information on the BDC’s products and services.

EDC is Canada’s export credit agency, offering innovative financing, insurance and risk management solutions to help Canadian exporters and investors expand their international business. 

More information on EDC’s products and services.

Participating private sector lenders have committed to:

Reporting and Governance

BCAP is steered by an oversight group of representatives of the Department of Finance, EDC, BDC, and Canadian financial institutions.  The steering group meets regularly to share information and search for more effective ways to collaborate in order to maximize the initiative’s positive impact on businesses and the economy.

The Government will monitor the program with participating lenders to ensure it is meeting its objectives.

Contact Information

If you are interested in exploring financing opportunities for your business through the BCAP, please contact your primary lender by phone or email.  BDC and EDC can also be contacted at:

Business Development Bank of Canada

1-877-232-2269

Export Development Canada  

1-800-229-0575

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