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TD Helps - Supporting businesses through financial uncertainty

If your business is facing financial challenges, TD is ready to help you move forward. From financing to other government programs, learn about the variety of options to help with small business relief.

Canada Emergency Business Account (CEBA)

IMPORTANT INFORMATION

The Government of Canada has announced that the repayment deadline for Canada Emergency Business Account (CEBA) loans to qualify for partial loan forgiveness has been extended from December 31, 2022 to December 31, 2023 for eligible borrowers in good standing. Eligible borrowers who are in good standing are also not required to pay interest on their CEBA loan until January 1, 2024 upon which interest will accrue at a rate of 5% per annum payable monthly. More information to follow.

CEBA is a loan up to $60,000 funded by the Government of Canada. Up to $20,000 may be eligible for loan forgiveness.

The application window to apply for a CEBA loan closed June 30, 2021.

Further details can be found by visiting our FAQ Page.

For enquiries on key program dates and updates, please refer to the Government of Canada CEBA website.

Canada Emergency Wage Subsidy (CEWS)

The Canada Emergency Wage Subsidy (CEWS) program provides eligible employers with a payroll subsidy.

Applications are only accepted online through the Canada Revenue Agency. For complete program details, visit the Government of Canada site.

TD is encouraging customers to enroll in direct deposit for CRA payments through our EasyWeb online banking portal.

Further details can be found within our FAQs.

Business Financing Requests

If your business is looking for financing, you can request new or additional credit for your business, inclusive of the Business Development Bank of Canada (BDC) Co-Lending Program and the Highly Affected Sectors Credit Availability Program (HASCAP).

Make a request now

Business Development Canada (BDC) Co-Lending Program

The Co-Lending Program brings the BDC together with TD to co-lend term loans to Small and Medium businesses that need help with operational cash flow requirements. Eligibility requirements include, but are not limited to:

  1. Differing maximum finance amounts based on business revenues

  2. Principal payment deferral options available

Business Development Bank of Canada (BDC) Mid-Market Junior Financing Program

The BDC Mid-Market Junior Financing Program brings the BDC together with TD to provide term loans, ranging from $12.5 million to $60 million, to medium and larger-size businesses that need help with operational cash flow requirements. Eligibility requirements include, but are not limited to:

  1. Annual revenues of $100 million or more.

  2. Businesses incorporated in Canada that generate revenue from the sale of goods or services and have business operations in Canada.

EDC Business Credit Availability Program (BCAP)

Export Development Canada’s Business Credit Availability Program (BCAP) offers eligible customers with credit financing.

The EDC BCAP includes:

  1. An operating credit of up to CAD $80 million.

  2. 75% to 80% of the loan guaranteed by the Federal Government through the EDC (dependent on financing amount).

TD Business Banking customers should contact their Relationship or Account Manager to learn more.

Highly Affected Sectors Credit Availability Program (HASCAP)

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:

  1. A loan amount ranging from $25,000 to $1,000,000

  2. A fixed interest rate of 4%

  3. A term of up to ten years

  4. The ability to defer principal payments for up to 12 months at the start of the loan

Eligibility requirements for HASCAP include but are not limited to:

  1. The business must have been financially viable prior to the economic impact of COVID-19

  2. The business must have received the Canada Emergency Wage Subsidy (CEWS) or the Canada Emergency Rent Subsidy (CERS) by having demonstrated a minimum revenue decline of 50% for at least three months of the past eight months prior to the HASCAP application date

    • If your business is eligible for but has not received CEWS or CERS, you must first apply for CEWS or CERS
    • If your business does not qualify for CEWS or CERS, you must provide financial statements for at least three months demonstrating a monthly year-over-year revenue decrease of a minimum of 50% per month within the eight months prior to your HASCAP application date

  3. The business must use the loan to continue or resume operations

TD Business Banking customers should contact their Relationship or Account Manager to learn more.

The HASCAP program end date is March 31, 2022.

Investissement Québec (IQ) Programme d’actions concertée temporaire pour les entreprises (PACTE) – Quebec Only

The IQ PACTE program is one of the ways that TD is supporting businesses in Quebec. The program offers eligible Quebec businesses ,which have been impacted by COVID-19, a guarantee to support their credit request in order to assist with covering their operating expenses.

TD Business Banking customers should contact their Relationship or Account Manager to learn more.