Business Development Bank of Canada (BDC), is a financial institution owned by the Government of Canada, which offers financing, venture capital and consulting services. Their primary focus is on small and medium-sized enterprises (SMEs). They have over 100 offices across Canada and have been helping Canadians for over 65 years.
BDC is not a traditional bank. It’s mandate is to help small and medium-sized enterprises with financing and advice. It does not offer retail banking… and it does not do very many things a commercial bank does like take deposits or do traditional lending. Some of their lending is equity financing or subordinate lending (which means that BDC loans are subordinate to traditional bank financing and loans).
They have helped over 29,000 companies and entrepreneurs with loans, working capital and financing for their business.
Not only does BDC help with financing businesses but they provide information and guides to assist businesses reach their potentional. BDC has a complete step-by-step guide on starting a business.
Businesses can apply online for financing but will need to have completed a business plan. BDC offers a business plan template for businesses.
Visit the BDC website