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EDC Business Credit Availability Program (BCAP) Guarantee

Region: Ontario Answer # 7252

What is the BCAP?

The Business Credit Availability Program (BCAP) is a federal program that exists to help Canadian businesses deal with the financial impacts of COVID-19. The BCAP guarantees access to financing for Canadian businesses in all sectors and regions, improving their cash flow through their bank or credit union to cover rent, payroll and other business operating costs.

Through this program, Export Development Canada (EDC) provides a guarantee to your financial institution for the majority of the money you borrow, specifically new operating lines of credit or new term loans, encouraging your financial institution to increase your company’s access to credit.

Details of the BCAP

  • for Canadian small and medium–sized businesses
  • the size of your loan or line of credit is determined by your financial institution
  • EDC will guarantee 80% of new operating line of credit or new term loan
  • loans may be paid back over 5 years and include 6 months principal payment postponement
  • the program is available to businesses that were financially viable and revenue-generating prior to the COVID-19 outbreak
  • proceeds from your loan must be used to finance business operating costs and cannot be used to repay or refinance existing debt

How do you access BCAP?

Businesses looking to apply for support through BCAP should contact the financial institutions with whom they have a pre-existing relationship.

For more information on BCAP, visit the Export Development Canada (EDC) website.

For up-to-date information on Coronavirus COVID-19, visit Health Canada, the World Health Organization, and our related links and resources.

Get help from a life insurance advisor

Understanding life insurance and what is best for you can be overwhelming. It is important to get professional advice for your unique situation, and it is more affordable than you think. Life insurance can protect your family, your home and your business.  For a free consultation and quote, contact an Empire Life Insurance advisor.


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