Leveraging BDC's Interest-Free Loan For Digital Transformation
Laura Scarlett Martin 🚀
Top 100 Global Finance Influencer & 0.01% Linkedin User | 🤖 Adderbee Co-Founder 🌐 Artificial Intelligence + VC Thought Leader | 💸 Fractional CMO | Sales & Tech Consultant | 🎤 Speaker & Comedy Producer |
In this newsletter, I explain how the CDAP program works, what it's used for, and how to qualify. As a licensed CDAP consultant with Digital Fusion Consulting Inc, I have enjoyed helping entrepreneurs from all kinds of backgrounds to create roadmaps for implementing technology in their organization and accessing the funds to do it!
For the next year only, the Canadian Government is offering up to $15,000 in consulting to boost your business technology and up to $100k in interest free loans from the BDC Business Development Bank of Canada to implement the technologies that can propel your business forward.
Small & Medium Sized Businesses are struggling to scale and grow amid rising costs, labour shortages and operational inefficiencies. As consultants, we create a plan tailored to your business so you can address your most pressing bottlenecks.
Use the Business Technology grant to :
What Is The CDAP program?
Over the last 3 years, and for the rest of 2024, the CDAP program offers a total of $1.4B in grants and advisory services to SMEs from the Government of Canada and up to $2.6B in loans from BDC.
Your organization has the possibility of requesting $25k to $100K at zero interest loan to support its digital transformation, plus the advisory grant to develop a digital plan (covers 90% up to a max of $15,000). At the end of the engagement, you can also apply for a student placement wage subsidy for up to $7,300.
Features of the CDAP loan
💰Don’t pay for 1 year
💰6 years to repay
💰0% Interest-Free Loan from BDC
💰No personal guarantees
Qualifying Businesses:
⭐️Small & Medium Enterprises
⭐️For-Profit Corporation
⭐️Canadian-owned
⭐️1 to 499 employees
⭐️Have $500,000+ in revenue in at least 1 of the last 3 years
Do you think you're a fit?
Here's the next steps:
If you'd like to explore the program offerings and what we can do for your organization, book a calendly with me below:
This Grant + Interest-free loan from BDC is worth exploring for qualifying businesses.
Co-founder of Functionland Deeptech Commercialization Specialist
1yMy questions with this grant - 1) who vetts the quality of the final deliverables? 2) if a startup/sme was advised to build their own e-commerce platform from scratch ( as this program tends to do), would those startups not be better off starting out with Woo commerce or Shopify and then decide. if they should build, host, maintain an entire e-commerce platform by themselves, just to sell goods... . THIS PROGRAM NEEDS SCRUTINY.
Manager at I Trash It
1yHelloLaura, As i understand that grant money of $15,000.00 goes towards DFC, Which the will create report/analyst for my company and with that report/analyst I will be able to apply for 0% interest load from BDC.
President alternawork Inc.
1yHey Laura Scarlett Martin 🚀nice, I shared for greater reach, keep up the good work, thanks!