WHAT IS HASCAP LOAN PROGRAM?
The HASCAP Loan Program is a Canadian Government loan guarantee that provides Canadian businesses in highly-affected sectors with access to low-interest loans of $25,000 to $1,000,000. This program is available to Canadian businesses from all sectors that meet the HASCAP Guarantee eligibility criteria.
WHO IS ELIGIBLE
Your business is Canadian based
Your business must have been financially stable and viable prior to the current economic situation.
You can apply for a loan under the HASCAP Guarantee for each legal entity you own, up to a maximum combined amount of $6.25 million (all legal entities combined).
Applicants must have received payments from the CEWS or CERS program by demonstrating a minimum 50% revenue decline for at least three months within the last 8.
TERMS & CONDITIONS
Loans will carry a 4% interest rate.
Qualifying businesses will benefit from a low interest rate, repayment terms of up to 10 years
Up to 12 months postponement of principal payments ( 12 months interest only payments)
The loan is to be used to continue or resume operations.
The loan cannot be used to pay or refinance existing debts.
The program will be available until June 30, 2021. Please contact our office for more information