What is the HASCAP loan?
HASCAP loans are for small and medium-sized businesses that have seen their revenues decrease by 50% or more due to COVID-19 and the global pandemic.
The guaranteed loans amounts range from $25,000 to $1 million to cover operational cash flow needs for your business.
The funds are guaranteed by the Canadian government through BDC, the Business Development Bank of Canada.
Businesses can benefit from a 4% interest rate and a repayment term of up to 10 years. In addition, up to a 12-month postponement of principal payments at the start of the loan.