Financing for Tech Companies

By mmuise
Description:

Financing for Tech Companies Loan provides funding to earlier-stage scale-up Canadian tech companies in need to secure their market position and to established businesses in growth mode. Financing can be used to:
1. boost their growth plan (speed up their go-to-market, develop new products and hire more staff);
2. speed up new customer acquisition (invest in their sales, advertising, and digital marketing campaigns);
3. surpass competitors (acquire another business and attract new customers by expanding into new markets).


Comments on Funding:

Funding takes the form of loans and starts at $100,000.
Loan terms and conditions:
- the possibility to postpone principal payments at the start of the loan;
- a customized repayment schedule.

Deadline: Currently accepting applications
Eligibility:

Applicants must:

  • be Canadian-based tech businesses;
  • have been in operation for at least 24 months;
  • business owners that:
    a) are Canadian citizen or permanent residents;
    b) have reached the age of majority in the province or territory where they live.
Application Steps:

Applicants must:

1. complete an online business loan request providing a few details about the business, the project and contact information;

2. further discuss with a BDC representative when contacted.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

BDC also offers solutions that protect cash flow and support tech businesses at all stages, including those with a recurring fees revenue model. This applies to businesses with monthly recurring revenues of $50,000 or more. Other financing solutions are available for businesses whose monthly recurring revenues are less.

About the author
mmuise