What the Government has announced so far:


March 23, 2020

Coronavirus COVID-19 Resources for Canadian businesses (Government of Canada website)

Businesses seeking support through BCAP [Business Credit Availability Program] should contact the financial institutions with whom they have a pre-existing relationship, so that the financial institutions may assess the clients financial request.

If the needs of the client exceed the level of support the financial institution is able to provide, the financial institution will work alongside BDC or EDC to access additional resources the Government has made available under BCAP.

List of Participating private sector lenders in the Business Credit Availability Program (BCAP)

Financial Institutions:

Other Institutions:

Friday March 13, 2020

The Minister of Finance announced stimulus measures from the Government of Canada to support Canadian businesses during the coronavirus COVID-19 outbreak.

The government established a Business Credit Availability Program (BCAP) that will provide more than $10 billion in additional support to Canadian business through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC).


Business Development Bank of Canada (BDC)

BDC is offering flexible and tailored solutions for entrepreneurs:

  1. Small Business Loan

Get up to $100,000 through a completely online application process. Postpone capital payment for the first 6 months and repay your loan over 5 years. Interest rate of 5.05% (variance ranging between 1% and 12%).

Click here for Terms and Conditions

Click here to apply now

Note: “The Small Business Loan is offered at BDC’s Floating Base Rate* of 5.05% (effective March 17, 2020) plus a variance ranging between 1% and 12%, which is confirmed once the loan is approved. The interest rate is subject to change without notice.”

  1. Working Capital Loan

Apply for additional funds to bridge cash flow gaps and support operations.

Click here to learn more

  1. Purchase Order Financing

Cover up to 90% of a Purchase Orders(PO) amount with shorter term financing options.

Click here to apply

  1. Advisory Services for Financial Management and Operations


For more information and support, please contact a BDC representative:

Call: 1-877-232-2269 (Mon-Fri 7:30am to 8:00pm ET / Sat-Sun 9:00am to 5:00pm ET)

Submit an online inquiry by clicking here.


Export Development Canada (EDC)

EDC is here to help Canadian exporters. For all inquiries, please contact an EDC Trade Advisor:

Email: tradeadvisor-conseiller@edc.ca

Call: 1-800-229-0575 (9am to 5pm ET)

Submit an online inquiry by clicking here.


Wednesday March 18, 2020

Economic Response Plan – Cost and Implementation

Measure 2020-2021 Cost/Impact Implementation
Emergency Care Benefit

Up to $900 bi-weekly, for up to 15 weeks.

Applies to:

Workers, including:

  • The self-employed, who are quarantined or sick with COVID-19 but do not qualify for EI sickness benefits.
  • The self-employed, who are taking care of a family member who is sick with COVID-19, such as an elderly parent, but do not quality for EI sickness benefits.
  • Parents with children who require care or supervision due to school closures, and are unable to earn employment income, irrespective of whether they qualify for EI or not.

Applicants will need to re-attest every two weeks

Application for the Benefit will be available in early April 2020 through three channels:

CRA MyAccount secure portal

My Service Canada Account

An automated telephone application process

Up to $10 billion Early April

*requires Royal Assent

Emergency Support Benefit

  • Longer-term support for workers who are not eligible for EI.
Up to $5 billion Early April

*requires Royal Assent

GST Credit

  • Adults will receive up to $300 and up to $150 per child.
$5.5 billion Early April

*requires Royal Assent

Enhanced Canada Child Benefit

  • Increasing the maximum annual CCB payment by $300 per child for the 2019-20 benefit year.
$1.9 billion By Early May

*requires Royal Assent

Temporary Business Wage Subsidy

  • Eligible small employers will receive a subsidy equal to 10% of wages for a period of three months.
  • Maximum subsidy of $1,375 per employee and $25,000 per employer.
  • Eligible employers include corporations eligible for the small business deduction, as well as non-profit organizations and charities.
$3.8 billion Immediately

Supporting legislation to follow

Canada Student Loan Payments

  • Six-month interest-free moratorium on the repayment of Canada Student Loans.
$190 million Early April

* requires Royal Assent

Support for Indigenous Communities

  • A new distinctions-based Indigenous Community Support Fund to address immediate needs in First Nations, Inuit, and Métis Nation communities.
$305 million April

*requires Royal Assent

Support for people experiencing homelessness (through Reaching Home)

  • Additional funding for the Reaching Home Initiative, for supplies like additional beds and physical barriers for social distancing, to continue to support people experiencing homelessness.
$157.5 million April

*requires Royal Assent

Support for women’s shelters and sexual assault centres including on reserve

  • Supporting women and children fleeing violence to help shelters with their capacity to manage or prevent an outbreak in their facilities.
$50 million April

*requires Royal Assent

Lower Registered Retirement Income Fund Minimum Withdrawal Amounts

  • Reducing required minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25% for 2020.
$495 million Immediately

Supporting legislation to follow

Total $27.4 billion
Other supports
Flexibility for individual and corporate taxpayers (tax payment deferral until September)

  • New individual tax filing deadline: June 1, 2020.
  • Payment of any income tax owing until September 2020.
$55 billion Immediately
Business Credit Availability Program (BCAP) through BDC and EDC $10 billion + Immediately
Credit and liquidity support through financial Crown corporations, Bank of Canada, OSFI, CMHC and commercial lenders (e.g., Domestic Stability Buffer, Insured Mortgage Purchase Program, Banker’s Acceptance Purchase Facility) In the range of $500 billion Immediately