The Federal Government has designated the Business Development Bank of Canada (BDC) to develop liquidity options for affected industries. The programs are already being rolled out (with updates daily) and below is some initial information from BDC. Small- and medium- sized businesses (defined as 499 employees or less) can have access to up to $100,000 in 48 hours.
Business Development Bank of Canada (BDC) programs:
- Small Business Loan: Quickly access the funds you need. Up to $100,000 can be obtained online in as little as 48 hours from time of approval.
- Working Capital Loan: Get extra funds to bridge cash flow gaps and support everyday operations.
- Purchase Order Financing: Increase your cash flow to fulfil domestic or international orders with very flexible terms.