BDC Advisory Services — Certifications

Type
EXPERT ADVICE
Application Difficulty
MEDIUM
Time To Complete4 weeksProgram Budgetno cap
See If You Qualify

Highlights

This program is designed for businesses like yours, offering a unique opportunity to secure financing that can significantly boost your operations. Why is this program for you? It provides flexible funding options tailored to meet your specific needs, whether it's for expansion, new equipment, or operational costs.

Why should you apply? The program offers up to $1,000,000 in financing, with an additional $150,000 available for software or day-to-day expenses. This funding can be used for a variety of purposes, including:

  • Operating expenses
  • Restorations
  • New equipment
  • Software
  • And much more

What’s in it for you? Unlike other loans, this program is backed by the government, ensuring more favorable terms and conditions. You also have the flexibility to choose your repayment plan, with up to 15 years to pay it back. This makes it easier to manage your cash flow and invest in your business's growth. Qualifying is straightforward, making it an accessible option for businesses ready to take the next step.

Financing Details

Type of Financing: Loan

Repayment Terms and Interest Rates:

  • Repayment Term: Up to 10 years.
  • Interest Rates: Competitive fixed or variable rates available. Rates are determined based on the creditworthiness of the business and current market conditions.

Eligible Expenses:

  • Purchase of new or used equipment.
  • Leasehold improvements.
  • Working capital to support day-to-day operations.
  • Intangible assets such as patents and trademarks.

Ineligible Expenses:

  • Personal expenses.
  • Repayment of existing debts.
  • Real estate purchases.
  • Any non-business-related expenses.

Fees:

  • Application Fee: $150, non-refundable.
  • Origination Fee: 1% of the loan amount, which can be financed as part of the loan.
  • Annual Maintenance Fee: $100, applicable each year for the duration of the loan.

Qualifications

  • Must be a small or medium-sized enterprise (SME).
  • Must have a Canada Revenue Agency Business Number.
  • Business must be operating in Canada.
  • Must be in one of the following industries:

    • Aerospace
    • Automotive
    • Construction
    • Creation and culture
    • Fisheries
    • Food and beverage
    • Manufacturing
    • Mining
    • Oil and gas
    • Technology
    • Tourism
  • Disqualifications:

    • Businesses in the retail/wholesale sector.
    • Real estate businesses.
    • Government services.
    • Personal or social services.
    • Professional services such as marketing firms, creative agencies.

Description

This program offers your business a fantastic opportunity to achieve internationally recognized certifications. You can receive financial support to cover the costs of certification in areas like quality management, information security, and environmental management.

Here’s what you get:

  • Financial Assistance: The program helps cover the costs associated with obtaining certifications such as ISO 9001 for quality management, ISO 27001 for information security, and ISO 14001 for environmental management. This can significantly reduce your out-of-pocket expenses.

  • Expert Guidance: You’ll receive support from experienced consultants who can guide you through the certification process. This includes help with implementation, creating customized policies and procedures, and internal auditing services.

  • Employee Engagement: The program also focuses on training your employees, ensuring they are motivated and adhere to new certification practices. This boosts satisfaction and fosters a continuous improvement mindset within your team.

By participating in this program, your business can meet regulatory requirements, enhance customer confidence, and position itself to attract larger clients. This is a valuable investment in your business’s future, helping you to minimize risks and improve overall operational efficiency.

Program Steps

  1. Gather Required Documentation: Prepare the necessary documents for your application. These typically include:

    • Business plan
    • Financial statements (balance sheets, income statements, cash flow statements)
    • Tax returns
    • Proof of business registration
    • Identification documents for business owners
    • Any additional documents specific to your business or industry
  2. Complete the Application Form: Fill out the official application form for the program. Ensure all sections are completed accurately and thoroughly.

  3. Review and Proofread: Double-check your application and documentation for any errors or omissions. Accuracy is crucial for a smooth application process.

  4. Submit the Application: Send your completed application form and all required documentation to the designated submission portal or address. Follow any specific instructions provided by the program.

  5. Follow Up: After submission, keep track of your application status. Be prepared to provide additional information or clarification if requested by the program administrators.

  6. Await Approval: Wait for the program administrators to review your application. This process may take some time, so be patient and responsive to any communication from the program.

  7. Receive Funds: Upon approval, review the terms and conditions of the funding. Once you agree to the terms, the funds will be disbursed to your business.

Visit Program Website