BDC Financing — Tech Companies
Highlights
This program is designed for tech companies like yours. It offers non-dilutive financing solutions that help you grow without giving up ownership. With a tailored payment schedule, you can manage your cash flow more effectively.
Key Benefits:
- Boost your growth plan: Get the working capital you need to speed up your go-to-market, develop new products, and hire more staff.
- Speed up new customer acquisition: Invest in sales, advertising, and digital marketing campaigns.
- Surpass competitors: Expand into new markets and acquire other businesses.
Why This Program Stands Out:
- Stay in control: No need to sell your shares or use them as collateral.
- Unparalleled flexibility: Postpone principal payments at the start of the loan and enjoy a customized repayment schedule.
- Unique approach: We look beyond tangible assets and traditional banking ratios.
Applying is straightforward, and approval is based on your business's unique needs and potential. This program can provide the financial support you need to take your business to the next level.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Flexible repayment schedule tailored to your business needs.
- Option to postpone principal payments at the start of the loan.
- Customized interest rates based on your business profile.
Eligible Expenses:
- Working capital to speed up your go-to-market strategy.
- Development of new products.
- Hiring additional staff.
- Sales, advertising, and digital marketing campaigns.
- Business acquisitions and market expansion.
Ineligible Expenses:
- Funds cannot be used for personal expenses.
- Cannot be used for non-business-related investments.
Fees:
- No fees for application or document preparation.
- No renewal fees for the loan.
Qualifications
- Must be a tech company.
- Must have monthly recurring revenues of $50,000 or more.
Must be a Canadian business.
Disqualifications:
- Businesses with monthly recurring revenues less than $50,000.
Description
This program offers your business a chance to borrow up to $3 million. You can use this money to boost your growth, speed up customer acquisition, and surpass competitors.
You can use the funds to:
- Boost your growth plan: Get the working capital you need to develop new products and hire more staff.
- Speed up new customer acquisition: Invest in sales, advertising, and digital marketing campaigns.
- Surpass competitors: Acquire another business and expand into new markets.
The benefits include:
- Stay in control of your business: No need to sell your shares or use them as collateral.
- Unparalleled flexibility: You can postpone your principal payments at the start and customize your repayment schedule.
- A unique approach: The program looks beyond tangible assets and traditional banking ratios.
If you need solutions beyond conventional financing, experts can help you structure a financial package with terms adapted to your needs, without diluting ownership. This program is designed to support tech businesses at all stages, ensuring you have the resources to grow and succeed.
Program Steps
Gather Necessary Documentation:
- Business Plan
- Financial Statements (last two years)
- Tax Returns (last two years)
- Proof of Business Registration
- Identification Documents (e.g., driver's license, passport)
Complete the Application Form:
- Fill out all required fields accurately.
- Provide detailed information about your business and its operations.
Prepare a Detailed Use of Funds Statement:
- Outline how the funds will be used.
- Include quotes or estimates for any purchases or investments.
Review Loan Terms and Conditions:
- Understand the interest rates, repayment schedule, and any fees.
- Ensure the terms align with your business’s financial situation.
Submit the Application:
- Submit the completed application form and all required documentation.
- Ensure all information is accurate and complete.
Follow Up with the Program Office:
- Contact the program office to confirm receipt of your application.
- Address any additional questions or provide further information if requested.
Wait for Approval:
- The program office will review your application.
- Be prepared for possible follow-up questions or requests for additional documentation.
Receive Funds and Implement Your Plan:
- Upon approval, review the final loan agreement.
- Sign the agreement and receive the funds.
- Implement your business plan as outlined in your application.
