BDC Advisory Services — E-commerce
Highlights
This program is designed for business owners like you who want to boost their online presence and drive more sales. By applying, you can access financing options to cover the cost of expert advisory services, ensuring your digital initiatives lead to increased sales and sustained growth.
What You Get
- Structured approach: A time-tested, action-oriented method proven successful for Canadian entrepreneurs.
- Knowledge sharing: We share our expertise to help you and your team build long-term capabilities and resilience.
- Coaching and support: Reach your online sales goals faster with impartial consultants providing implementation support as needed.
Benefits
- Launch a fully operational online store: Quickly set up an e-commerce store, select the right platform, and learn how to manage a successful digital business.
- Drive more online sales: Identify and implement game-changing improvements to supercharge your web presence and digital marketing.
- Build a custom website from A-to-Z: Get expert guidance to define requirements, select a vendor, and manage your website strategy, architecture, and development.
This program offers a simplified qualification process and provides a unique opportunity to enhance your business's digital footprint with expert support and financing.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Repayment Term: Up to 10 years.
- Interest Rates: Fixed rate of 5% per annum.
Eligible Expenses:
- Purchase of new or used equipment.
- Leasehold improvements.
- Intangible assets such as patents and trademarks.
- Working capital to support business operations.
Use of Funds:
- Funds cannot be used for personal expenses, real estate purchases, or refinancing existing debts.
Fees:
- Application Fee: $150, non-refundable.
- Document Preparation Fee: $200.
- Annual Administration Fee: 1% of the outstanding loan balance, included in the interest rate.
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 involved 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 great opportunity to grow and thrive. You can receive up to $1,000,000 to help with various business needs. Here’s how it can benefit you:
Up to $500,000 can be used to buy equipment or improve your rented space. This includes:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other costs like software or working capital, you can get up to $150,000. This helps keep your business running smoothly.
The federal government guarantees 85% of the loan, giving you a significant safety net. You can also apply this loan to significant purchases made in the last 365 days if they fit the program guidelines.
Flexible repayment options are available. You can choose a variable interest rate, a fixed one, or a combination of both. You have up to 15 years to pay back the loan, regardless of what you spend it on. This flexibility ensures you can manage your finances effectively while growing your business.
Program Steps
Gather Required Documentation: Prepare the necessary documents for your application. These typically include:
- Business plan
- Financial statements (balance sheet, income statement, cash flow statement)
- Proof of business registration
- Tax returns
- Identification documents for business owners
- Detailed project plan or use of funds
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately and thoroughly.
Submit the Application: Submit your completed application form along with the required documentation to the designated program office or online portal.
Follow Up: After submission, follow up with the program office to confirm receipt of your application and inquire about the next steps.
Attend an Interview or Meeting: If required, attend any scheduled interviews or meetings to discuss your application and provide additional information.
Review and Sign Agreement: If your application is approved, review the terms and conditions of the program agreement. Sign the agreement to formalize your participation in the program.
Receive Funds: Once the agreement is signed, the funds will be disbursed according to the program’s guidelines. Use the funds as outlined in your project plan.
Report Progress: Regularly report on the progress of your project as required by the program. This may include financial updates and project milestones.
Complete Final Reporting: Upon completion of your project, submit a final report detailing the outcomes and impact of the program funding on your business.