SCROLL DOWN TO FIND OUT IF YOU QUALIFY FOR CDAP

Overview

CDAP is a federal government grant program designed to help small to medium sized businesses (SMEs) plan and improve their digital technology. The Net Effect can advise your company on how to access the Boost Your Business Technology grant of up to $15,000 and the subsequent Business Development Canada interest-free loans for up to $100,000 for implementing the plan.

Boost Your Business Technology Grant

The Boost Your Business Technology grant offers support to Canadian-owned small and medium sized enterprises (SMEs) who want to adopt new digital technologies.

Eligible businesses will have access to a marketplace of digital adoption experts to help them develop a digital adoption plan tailored to their needs.

Eligible businesses can leverage the grant to pay for the services of a digital advisor. Digital advisors will work with companies to recommend digital pathways and strategies that will help them achieve their business goals and increase their competitiveness in the digital economy.

The grant covers up to 90% of the eligible cost of retaining the services of a digital advisor, up to a maximum grant value of $15,000 per SME, to develop a digital adoption plan.

Businesses also have the opportunity to secure a 0% interest loan from the Business Development Bank of Canada (BDC) to facilitate the acquisition of new technology. In addition, applicants can leverage the help of talented post-secondary students and recent graduates through subsidized work placements.

Eligibility

Before applying, your business must meet all of the following eligibility criteria.

Consult the program guide to read through the detailed terms and conditions of the program.

Eligibility Criteria

  • Be incorporated federally or provincially, or be a Canadian resident sole proprietor
  • Be a for-profit, privately owned business
  • Have between 1 – 499 full time equivalent employees
  • Have at least $500,000 of annual revenues in one of the previous three tax years

Digital Needs Assessment

Evaluate your digital maturity

The first step in helping your business thrive in a changing business landscape. Assessing your business maturity is an important step to help identify where your business stands in terms of digital advancement.

Reasons to assess your digital maturity:

  • Identify your current digital capabilities and needs
  • Define your digital roadmap
  • Discover potential improvements
  • Evaluate and prioritize investments

BDC Loans

Zero interest loan from BDC

You’re ready to move forward on your digital adoption plan but you may not have the necessary cashflow to implement the recommendations you received? BDC can help you.

Financing you can use to implement your digital adoption plan

  • Affordable and convenient
    • Up to $100,000 loan
    • 0% interest loan
    • Online application
  • Eligibility
    • Business revenues between $500,000 and below $5M: you can request a loan between $25,000 and $50,000
    • Business revenues $5M and more: you can request a loan between $25,000 and $100,000
  • Flexible terms
    • 5-year term with 12-months capital postponement (total of 6 years)
    • No fees
  • Convenient application deadline
    • You have 1 year from the completion of your approved digital adoption plan to make a loan request.

 

 

Application

Your business meets one of these two scenarios. You’ve completed a digital adoption plan:

  • under another recognized digital adoption program and submitted it to ISED
  • as part of the CDAP program and you received disbursement of your grant

Note: you can only access this application form via the unique link ISED will provide you.

Next steps for the loan request:

Once you have asked ISED to qualify your eligibility under the program and received an email from ISED with your unique link, you will get access to complete an online form on bdc.ca to make your loan request.

Note: Your business must also meet BDC creditworthiness requirements to obtain financing. Certain conditions apply.

Once you have completed the BDC application form, you will receive a notification from BDC with the status of your loan request.

Funded Work Placement

Funded work placements will be an integral part of the Boost Your Business Technology grant. Students or recent graduates can be hired by firms undertaking digital transformation to help businesses achieve their digital adoption goals.

Businesses will receive a wage subsidy up to $7,300 to hire talent through the funded work placement.

Sign-up to the newsfeed to be notified when the funded work placement program feature will be open for SMEs to apply.