The Business Credit Availability Program (BCAP) will allow the Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $65 billion of additional support, largely targeted to small and medium-sized businesses.
This will be an effective tool for helping viable Canadian businesses remain resilient during this very uncertain times. BDC and EDC are cooperating with private sector lenders to coordinate on credit solutions for individual businesses, including in sectors such as oil and gas, air transportation, tourism and hospitality industry.
The near term credit available to farmers and the agri-food sector will also be increased through Farm Credit Canada.