The Business Development Bank of Canada has announced that, in light of the unprecedented economic impact of COVID-19, all legal businesses are now eligible for financial aid through the Business Credit Availability Program (BCAP), icluding the Canada Emergency Business Account and the Small and Medium-sized Enterprise Loan and Guarantee program. This means that businesses formerly excluded from these programs, including bars and lounges, are now eligible to apply. See the full statement from the BDC.
As an important reminder, business owners interested in applying for financial relief through BCAP should contact their primary financial institution directly. For more information, please visit the Finance Canada website, as well as the Restobiz COVID-19 Portal resource page for a simple breakdown of how to apply.