BDC Technology Financing Options for ICT Purchases
The Business Development Bank of Canada (BDC) is dedicated to supporting business’ strategic advancement in the marketplace through financing options. One such option is focused on providing competitive financing options for ICT purchases, including hardware, software, and IT consulting services.
BDC Information and Communication Technology Financing Details
This program offers up to $500,000 as a loan with an interest rate of prime + 1% and a four year repayment period. The loan must be used for expenses directly related to ICT purchases or upgrades to make the business more productive, efficient, and/or profitable. These expenses could include:
- Hardware: Servers, networks, telephony, computers, & accessories.
- Software: ERP, CRM, human resources, supply chain, financing & accounting.
- Consulting Services: IT planning, strategy, security, online services, online marketing, & social media.
BDC also offers businesses professional advice, training and resources to best leverage the related technology investments. To determine specific eligible expenses or if your upcoming ICT expenses are aligned with the program’s focus, please contact BDC directly at 1 877 BDC-BANX (1 877 232-2269).
Hiring Grants for Technology Grants
Companies dedicated to improving productivity via IT adoption will likely require the internal expertise to implement and maintain the new technologies. Fortunately, there are hiring grants available that provide up to $18,000 that cover up to 50% of a youth post-secondary graduate’s salary. If you would like to see if your company’s upcoming position(s) are eligible for funding, please tap into our Wage Subsidy Identifier Tool to confirm your position’s eligibility for funding.