BDC small business loan: amounts, eligibility and what lenders ask for

Up to $350,000 from the Business Development Bank of Canada. Loans up to $100,000 target approval in under 10 days, with a 5-year amortization; $100,000–$350,000 targets under 30 days, with up to an 8-year amortization. Both are subject to conditions.

BDC points businesses that have been operating 12 to 24 months to a separate financing route, where approval may take longer, additional fees may apply and some eligibility criteria differ. Confirm the current amount with BDC directly.

• Small Business Loan — up to $350,000
• Up to $100,000 — target approval in under 10 days, 5-year amortization, 24 months in business
• $100,000–$350,000 — target approval in under 30 days, up to 8-year amortization
• Operating 12–24 months — a separate route with different criteria

BDC lists 24 months in business for loans up to $100,000, and financial statements covering the last 24 months for larger ones. Statements pieced together from bank exports at application time usually need an accountant to tidy up first, which costs time at the exact moment a business wants a fast answer.

Having a profit and loss statement, balance sheet and AP/AR aging report already current saves real time here — HelloBooks keeps all three up to date from the first transaction you post, on the Free Plan, so there's nothing to assemble from scratch when a lender asks.

Full detail: see free accounting software for Canada.

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