COVID-19 affected businesses can get guaranteed, low-interest loans ranging from $25,000 to $1 million to support their operational cash flow needs.
M7 Taxes can help you get through the details of the application process and assist you in your quest to source funds to support your business.
Up to $1 million
The guarantee covers values ranging from $25,000 to $1 million, ensuring that your business can continue to operate during the epidemic.
Loans with A Guarantee
The Government of Canada has ordered BDC to give an assurance to your financial institution for 100% of the worth of another term loan, to build your organization's ability to get to new credit.
Competitive and Flexible Terms
Take advantage of a low-interest loan with a 10-year repayment period. At the start of the loan, you can defer principal payments for up to a year.
How to Apply
To learn more, contact your primary financial institution. Important: You are only allowed to apply to one banking institution.
Dates of the Programme
From February 1, 2021 to June 30, 2021, the programme will be available at selected partnering financial institutions.
Your company had to be financially stable and viable, Prior to the current economic circumstances
You had also received funds either from the Canada Emergency Subsidy (CEWS) or the Canada Emergency Rent Subsidy (CERS) after demonstrating a minimum 50% revenue reduction for at least three months (not necessarily sequential) with in eight months period prior to the date of the HASCAP Guarantee application.
The funds will be used to retain or resume operations.
It is not possible to use the loan to pay off or refinance existing debt.
Your company is based in Canada.
There may be further eligibility requirements.
Contact us today to learn more about this loan and other government assisted relief programs available to your business.