Credit Availability Program (HASCAP) Guarantee

HASCAP Loan - up to $ 1,000,000 

Key Program

4 % interest regardless of the amount and regardless of the term

No principal repayment up to 12 months

 HASCAP is available until June 30, 2021 

The term loan security is based on GSA – General Security Agreement

There are no personal guarantees required.

No application fee under this program.

You cannot repay the existing loan or pay dividend payment or the similar items with this loan.

BDC provides a guarantee to your financial institution for 100 % of the value of a new term loan

Who is eligible?

-Canada based companies

-Financially stable and viable prior the pandemic

-And can response YES to one od the following categories:

Company received CEWS or CERS.

You will need to provide:

1 copies of the payments from CEWS or CERS

2. Provide CRA attestation form that demonstrate at least 50 % revenue decline as a result of pandemic for at least 3 months with in 8-month period before the application.

3. If you are eligible for these two programs, but have not applied yet, then you must apply before allying for HASCAP

Company who is not eligible for CEWS or CERS

1. Must provide financial statements to demonstrate at least 50 % revenue decline as a result of pandemic for at least 3 months with in 8-month period before the application.

Contact to your financial institute and it will provide you with the link to HASCAP Online If Form. You will have the application form and receive a unique ID code which you will send to your financial institution.

The amount of the loan id determines based on what amount you are applying:

Segment 1 is between $ 25,000 -50,000 is up to company discretion.

Segment 2 is between $ 50, 000- 250,000 is up to company discretion.

Segment 2 is between $ 250,000-1,000,000 is governed by the Debt Service Coverage requirement.

 See the link below for FAQ

 https://www.bdc.ca/en/special-support/hascap#list