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•Business Development Bank of Canada
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•Business Development Bank of Canada
By: Daniel Parsons
About
BDC Small Business Loan
The Business Development Bank of Canada is a company that helps Canadian Businesses with financing, focusing on small to medium sized enterprises (SMEs).
Works Cited
The BDC Small Business Loan is best for small businesses who need an extra financial boost to increase their business. A business can get up to $50,000. The business needs to have existed for two years, and the owner must be a Canadian Citizen. The advantages to this loan include the fact that there are no fees that one needs to pay. The entire process for the Small Business Loan can be done on the BDC website. It also helps the business increase production.
Overview.
Retrieved from http://www.bdc.ca/EN/about/overview/Pages/overview1.aspx
Types of Financing
BDC Business Loan
Disadvantages
Financing.
The BDC Business Loan is used for larger business initiatives such as real estate purchases, equipment upgrades, new technology, starting a new business, and other uses. One advantage to this loan, just like the Small Business Loan, is that it provides a business with the necessary funding to increase the production of a larger enterprise by a substantial amount. In order to obtain the over $50,000 loan, you need to email a BDC representative through the wesite.
Retrieved from http://www.bdc.ca/EN/solutions/financing/Pages/default.aspx
The Business Development Bank of Canada has two separate types of financing based on the enterprise's need. One can choose either under $50,000 or over $50,000.
One of the disadvantages to these loans include the risk of failure. If the business folds some time after the loan has been received, there is a possibility of major debt because the business was not able to pay the loan off in time. In addition, there is also the chance of not meeting the requirements of either loan. Usually, the loans are very easy to obtain, but if you are a fairly new business or not a Canadian Citizen, there will be issues.
Small Business Loan
Retrieved from http://www.bdc.ca/EN/solutions/financing/Pages/financing_request.aspx
Loan Characteristics
The loans from the BDC are easy to obtain, and are best used for the suggestions given on the website. The smaller loans are best for a financial boost, while the bigger loans can be used for starting a business, large purchases, and other options.
Business Loan
Retrieved from http://www.bdc.ca/EN/solutions/financing/Pages/business_loan.aspx