Highly Affected Sector Credit Availability Program (HASCAP)
HASCAP is a government-guaranteed, low-interest loan for amounts between $25,000 and $1 million per legal entity, up to a maximum of $6.25 million for related entities, to cover operational cash flow needs.
HASCAP applications opened February 1 through your primary lender and will be available until June 30, 2021. These loans are intended for small and medium-sized businesses that have seen their revenues decrease by 50% or more as a result of COVID-19.
TIAC advocated for the efficient roll out of this program and was pleased to see that the government heard our message and made this support available as of February 1.
TIAC held a member’s only webinar with the Business Development Bank of Canada to provide clarity on registration requirements, process, and to address member questions.
If you missed it, please find the recording on the member portal.
For those that have now applied or are planning to apply for the HASCAP support, we would like your feedback. TIAC is working closely with government to ensure that industry feedback is heard on the program.
Please take 5 minutes to fill out our feedback survey that will be shared directly with government officials.