In response to the difficulties faced by the hardest hit businesses due to COVID-19, BDC in conjunction with the Government of Canada, has developed the Highly Affected Sectors Credit Availability Program (HASCAP) Guarantee. This program will provide low-interest loans ranging from $25,000 to $1,000,000 to cover operational cash flow needs.

To qualify, businesses must:

• Be Canadian based.
• Have been financially stable and viable pre-COVID.
• Have received payments either from the Canadian Emergency Wage Subsidy (CEWS) or the Canada Emergency Rent Subsidy (CERS) by demonstrating a minimum 50% revenue decline for at least 3 months within the last 8-month period prior to the HASCAP application.
• The loan will be used to continue or resume operations.
• The loan cannot be used to pay or refinance existing debts.
• Minimum risk ratings will apply, varying by size of new loan.
• You can apply for a loan under the HASCAP Guarantee for each legal entity you own, up to a maximum combined amount of $6.25 million (all legal entities combined).
• Other conditions may also apply.

Please see the BDC website for more details, including all eligibility requirements: https://www.bdc.ca/en/special-support/hascap?ref=shorturl-hascap

HASCAP will be available until June 30, 2021. If you think this program would be the right opportunity for your business, you are encouraged to apply.