Highly Affected Sectors Credit Availability Program Guarantee

Helping hardest-hit businesses access additional financing on more flexible terms

The Highly Affected Sectors Credit Availability Program (HASCAP) Guarantee is a new lending program designed to help small and medium-sized businesses with their operating cash flow. The program will provide loans of $25,000 to $1 million to businesses who’ve experienced decreased revenue by 50% or more due to COVID-19.

The program is available until June 30, 2021.

Keep in mind, you can only apply at for this loan at one financial institution

Program Overview

  • loans ranging from $25,000 to $1 million
  • interest rates as low as 4%
  • take up to 10 years to repay
  • ·options to postpone principal payments up to 12 months

Who can apply?

Canadian businesses may be eligible if:

  • your business was financially stable before the COVID-19 pandemic
  • you received payments from Canada Emergency Wage Subsidy (CEWS) Program or Canada Emergency Rent Subsidy (CERS) by demonstrating a minimum 50% revenue decline for at least three months (not necessarily consecutive) within an eight-month period prior to your HASPCAP Guarantee application date
    • If your business doesn’t qualify for CEWS and CERS, but otherwise meets all HASCAP eligibility criteria, you must provide financial statements that reflect three months (not necessarily consecutive) in which monthly year-over-year revenue decreased by at least 50% within the eight-month period prior to the date of the HASCAP Guarantee application.
  • the loan will be used to continue or resume operations
  • the loan won’t be used to pay or refinance existing debts
  • ·other conditions may apply. Learn more.

Contact us at 1.866.863.6237 to apply!