The Business Development Bank of Canada (BDC) BCAP Mid-Market Financing Program
The BDC BCAP Mid-Market Financing Program provides liquidity support to medium-sized Canadian businesses impacted by COVID-19 and whose credit needs exceed what is already available through the federal government’s Business Credit Availability Program (BCAP).
Recently, the Government of Canada announced a new relief program to provide liquidity support to medium-sized Canadian businesses facing economic hardship as a result of COVID-19. The BDC BCAP Mid-Market Financing Program brings liquidity to companies particularly impacted and whose credit needs exceed what is already available through the federal government’s Business Credit Availability Program (BCAP).
If you are a qualifying Scotiabank or Roynat Capital Commercial Business Banking client with annual sales over $100,000,000 and directly impacted by COVID-19, the BDC BCAP Mid-Market Financing Program provides access to a non-revolving term loan between $12,500,000 to $60,000,000.
- Interest only term loan with a 4-year term.
- Loan is being financed 90% by the BDC and 10% by Roynat Capital, a wholly owned subsidiary of Scotiabank.
- Eligible businesses may obtain financing between $12,500,000 to $60,000,000.
- The maximum finance amount will be based on company’s liquidity requirements for a 12 month period and ability to repay in a normal market and business environment.
- Scotiabank standard lending terms for Commercial Business Banking clients apply.
The following eligibility requirements must be met:
- Be an existing Scotiabank or Roynat Capital Commercial Banking client, and Scotiabank is your primary bank or primary lender.
- Company based or located in Canada whose Canadian business operations have been adversely impacted by COVID-19.
- Annual revenues in excess of approximately $100,000,000
- Financially stable and viable prior to the current economic downturn.
- Funds cannot be used for debt repayment, refinancing or dividend payments.
Please note the following businesses are not eligible to apply:
- Companies in sectors eligible for other sector specific BCAP programs (e.g. Exploration & Production companies in the Oil & Gas sector)
- Government organizations or bodies or government-owned entities (First Nation owned businesses are eligible to apply).
- Is an entity in which a union, charitable, religious or fraternal organization owns equity interests.
- Entities that exist as a fundraising vehicle for charities.
- Non Publicly traded entities owned by members of the Parliament or Senate of Canada
- 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.
- Entities where it has been determined they have committed tax evasion or, except as disclosed, been subject to any assertion or assessment to have engaged in tax evasion.
Applying for the BDC BCAP Mid-Market Financing Program:
The BDC BCAP Mid-Market Financing Program is currently available and receiving applications. If you are a current Scotiabank or Roynat Capital Commercial Business Banking client and interested in applying for this program, please contact your Relationship Manager. The deadline to apply and obtain approval for the program is December 31, 2021.