The Highly Affected Sectors Credit Availability Program (HASCAP) Guarantee is a business lending program for Canadian businesses that have been disproportionately impacted by COVID-19. The program provides a loan that is 100% guaranteed by Business Development Bank of Canada (BDC). Key features of HASCAP include:Borrowers must submit an application for forgiveness of their first draw PPP loan and receive a decision from the SBA before they are eligible to apply for a second draw PPP loan. As one of the largest PPP lenders, TD Bank has a robust digital PPP forgiveness portal in place that provides a streamlined process for our customers and will include the COVID Revenue Reduction Score for loans $150,000 and under in the near Small Business Loans The Small Business Administration (SBA) offers programs that can help your business if it’s been affected by the coronavirus pandemic. Paycheck Protection Program (PPP) The Paycheck Protection Program (PPP) ended on May 31, 2021. It offered loans to help small businesses and non-profits keep their workers Small business cash flow loan scheme (SBCS) supports organisations and small to medium businesses affected by COVID-19 and has been extended until 31 December 2023. If your business has 50 or fewer full-time equivalent staff, you may be eligible to receive a one-off loan. The maximum amount loaned is $10,000 plus $1,800 per full-time-equivalent SBAExpress Loan Amounts Up to $350,000: Term: Up to 25 years, fully amortizing: Advance Rate: Up to 100% on machinery and equipment; Up to 85% on business acquisitions; Benefits: Fixed and variable rates available; Longer terms to maximize cash flow; Accelerated turnaround times for a faster closing; Flexible use of proceeds to help maximize business performanceCOVID-19 Small Business Cashflow Scheme (SBCS) The Small Business Cashflow Scheme (SBCS) was introduced to support small to medium businesses and organisations struggling with a loss of actual revenue due to COVID-19. Applications are open until 31 December 2023. We …Business Term Loan: For a one-time expense (buying equipment or another business) that can be paid back in a few years. Commercial Mortgage: For a one-time expense to purchase or refinance a loan for commercial property. Forgiveness Application: SBA Paycheck Protection Program. Want to apply for a TD Bank Time Note, Letter of Credit or ACH 02/04/2020 · The size of the loan would equal 250% of an employer’s average monthly payroll. The maximum loan amount would be $10 million, with interest rates capped at 4%.
