Waterloo Region & Guelph

LoanFederal program

BDC Small Business Loan

BDC is the federal Crown bank for small businesses. Its Small Business Loan offers $10,000 to $350,000, applied for online, for businesses already making sales and profits. It's a loan you repay with interest.

Amount
$10,000 to $350,000 for the Small Business Loan. BDC lists other loans for larger or specific needs.
Status
Year-roundApply online any time. Approval isn't guaranteed; every application gets a full review.
Type
Loan (repaid with interest)
Run by
BDC (Business Development Bank of Canada)
Where
All of Canada
Checked on
Nov 13, 2026

Who it's for

  • Businesses located in Canada
  • Up to $100,000: at least $100,000 in annual revenue and at least 24 months in operation
  • Over $100,000 to $350,000: at least $250,000 in annual revenue and 24 months of financial statements
  • Owners with a personal credit score of 600 or higher, and a business that's currently profitable

Not for

  • Cannabis or vape products
  • Gambling, casinos, bars or nightclubs
  • Private education, rehabilitation or accommodation
  • Payday lending, pawnshops, cheque cashing or rent-to-own financing

What it covers

  • Projects or operating needs
  • BDC also lists separate working capital, equipment, commercial real estate, purchase order and business purchase loans

How to apply

  1. Check eligibility online. There's no credit check at this step.
  2. Apply online with details on the business, its leaders and shareholders.
  3. Have your business registry details, a void business cheque and government photo ID ready.
  4. If approved, BDC says funds can be available in less than a week.

Good to know

  • This is a loan. Interest is BDC's floating base rate plus a variance set for each client.
  • Up to $100,000: no application or prepayment fees, up to 6 months of interest-only payments, 5-year amortization.
  • Over $100,000: certain fees apply, up to 12 months interest-only, up to 8-year amortization.
  • Businesses operating 12 to 24 months may face longer approval, extra fees and different criteria.
  • BDC also lists an Inclusive Entrepreneurship Loan and an Indigenous Entrepreneur Loan, each up to $350,000.

Questions

Can a brand-new business get a BDC Small Business Loan?

The loan page asks for at least 24 months in operation, though businesses at 12 to 24 months may be considered with longer timelines and possibly extra fees. BDC's financing page says loans are generally for businesses with at least 12 months of revenue.

How fast is approval?

BDC says under 10 days for loans up to $100,000 and under 30 days for larger ones, with conditions. Funds can follow in less than a week after approval.

Is BDC a grant program?

No. BDC is a lender, and this is a loan you repay with interest.

Related programs

Open, closes Jan 19, 2027Mixed

Indigenous Economic Development Fund

Not stated on the main page. The Economic Diversification Grant guide says up to $100,000 per fiscal year per applicant.

Government of Ontario (Ministry of Indigenous Affairs and First Nations Economic Reconciliation)All of Ontario

Open, closes Jan 21, 2027Loan

Southwestern Ontario Development Fund (SWODF)

Up to 15% of eligible project costs. Loans up to $5 million, interest-free during the project period (up to 4 years), with up to 30% (max $500,000) forgivable if targets are met. Grants only in limited cases: up to $500,000 for small rural firms, or $1.5 million for strategic projects.

Government of Ontario (Ministry of Economic Development, Job Creation and Trade)All of Ontario