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Federal Government Support:


Provincial Government Support:


BDC Support for COVID-19 Crisis:


Info from BDC:

BDC is available to assist companies that are in need for financial support to weather this storm. We are able to support companies that were already profitable (declaring a net income in the last year- end financial statements, at least) with short term financing to pay for expenses for the next few months


Here are a few details about the offer, that is subject to change:

  • Maximum $2MM (amount will be based on how much is required to keep the business afloat for the next 6 months);

  • Up to 6 months interest only payments

  • Amortization: 24 month amortization (excluding 6 month initial principal postponement, so 30 month total term); 40% of the loan will be payable after the initial postponement with a 60% balloon payment at the end;

  • Pricing: Floating base rate (currently 5.05%) minus 1.75% (total of 3.30%)

  • 2nd rank security behind Senior Lender

  • Security: Personal guarantee (not collateralized), General Security Agreement and/or potential real estate charge (case dependent);

Here is a list of documents that we will need to collect for the Borrower and all related companies:

  • Copy of Front and Back of the Driver’s License (all shareholders)

  • Statement of Personal Affairs Form to be completed and signed by all the shareholders. Please use one form per shareholder.

The following supporting documents may be required at the time of due diligence, please have them handy:

  • BC Assessment of all properties owned personally by the shareholders

  • Mortgage Balance Statements of all properties owned personally by the shareholders.

  • Supporting bank statements for Savings, RRSP, etc.

  • Financial Statements of all the companies owned personally by the shareholders.

  • Ownership Chart (name of shareholders and % of ownership in the Borrower and other companies owned by the shareholders)

  • Accountant prepared year-end financial statements for all companies for the past three years

  • Comparative, inhouse interim financial statements as at Dec 31, 2019 vs. Dec 31, 2018 (Income Statement and Balance Sheet).

  • Aged Accounts Receivable & Accounts Payable Listing at Dec 31, 2019 and year-end

  • Month to month cash flow statement from April 1 – Dec 31, 2020.

  • As part of the cashflow and forecasts, please answer the following questions:

    • A brief description of the company’s key issues (related to Covid-19 crisis).

  • At what activity level do you anticipate operating at, over the next six months (i.e. full shut down or reduced capacity)?

    • What are the main impacts on your activities?

    • Complete or partial closure of your premises?

    • Specialized staff / employees required?

    • Access to premises: common workspace (number of employees) or remote work possible?

  • What are the key carrying costs for the next 6 months?


  • rent, insurance, electricity, salaries, financial fees, etc.

  • With a working capital loan and/or postponement (and support from other lenders) does this cover your cash needs for the next six months?

Examples :​

  • Cash and availability on your current bank line of credit?

  • Do you have other sources of funding available?

  • Personal ability to inject funds in addition to BDC loan?


  • What are your agreements with key suppliers (and customers) on payment terms / support for the next six months?


Examples :

  • Have you undertaken discussions / negotiations with third parties?

  • Do you have line-of-sight to required raw materials for the next six months?

  • Availability or access to raw material?

  • If there is a franchisor involved have they suspended required payments?


  • Confirmation about continued availability to Bank Line of Credit

  • Certificate of Incorporation

  • Share Register

COVID-19 Government Support

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