Frequently Asked Questions

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To be eligible to apply for the Boost Your Business technology grant, your organization must meet the following four criteria:

• The organization must be incorporated either federally or provincially, or it should be a sole proprietor residing in Canada.
• The organization must be a privately owned, for-profit business.
• The organization should have between 1 and 499 full-time equivalent employees.
• The organization must have generated at least $500,000 in annual revenues during one of the previous three tax years.

It is permissible to apply for multiple businesses through CDAP (Digital Adoption Plan). However, each business must operate independently from the others and have its own distinct digital adoption plan.

No, your digital advisor cannot submit the application for you. The application must be submitted by the owner or director of the company. However, your advisor can provide guidance on the application process and assist you with any inquiries you may have.

Upon completion of your project, you can submit your invoices to the Government of Canada to claim reimbursement. The government will reimburse you for 90% of the total expenses, up to a maximum of $15,000.

Loan Terms: The CDAP Boost Your Business Technology stream offers a zero-interest loan with a 5-year term, including 12 months of capital postponement, resulting in a total loan duration of 6 years.

Loan Amounts: The loan amount depends on the size of your business. 

If your annual gross revenues are between $500,000 and below $5M, you can request a loan ranging from $25,000 to $50,000.

For businesses with $5M or more in annual gross revenues, the loan amount can range from $25,000 to $100,000.

Loan Purpose: The loan must be used exclusively for implementing a digital adoption plan that is recognized by the CDAP Boost Your Business Technology stream.

Eligibility and Requirements: Keep in mind that although you are applying for a loan under CDAP, you must meet the CDAP eligibility criteria and BDC creditworthiness requirements to receive a loan offer.

Optional Loan Participation: Participating in the digital plan portion of CDAP does not obligate you to apply for a loan. You have the flexibility to create your digital adoption plan, receive the grant for advisory services (covering up to 90% of the cost), and decide whether or not to proceed with the zero-interest loan.

Alternative Funding Sources: If you choose to implement your plan, you can also source the required funds from your own cash flow or seek assistance from regular financial institutions.

Application Deadline: The CDAP program is a four-year initiative, allowing you to apply until 2026.

Once your Digital Adoption Plan is approved by ISED (Innovation, Science and Economic Development Canada), you will have a 6-month window to complete your loan application with BDC (Business Development Bank of Canada) for the 0% loan. 

It's important to note that if you exceed these specified timeframes, you will become ineligible for the loan.

Before applying for a loan, it is important to follow certain steps. 

First, ensure that you have a digital adoption plan recognized by the CDAP Boost Your Business Technology stream. Once your digital adoption plan is reviewed and approved by CDAP, you can log in to the CDAP portal to access the 0% financing form provided by BDC. 

However, please note that while the loan request is made under CDAP, meeting CDAP eligibility criteria and BDC creditworthiness requirements is necessary to receive a loan offer.

Your digital adoption plan and invoices must be submitted to the federal government for reimbursement within nine (9) months after receiving funding approval. 

However, with the assistance of Soluzone’s Canadian Government-approved Digital Advisor, you can usually develop your technology roadmap in a much shorter timeframe, typically within a few weeks of signing the agreement contract.

We offer a comprehensive digital adoption plan that thoroughly evaluates how your business can enhance its operations by leveraging modern hardware and platforms. Our services provide the following specific deliverables:

Analysis of your current state: We assess your existing systems and processes to understand your organization's strengths, weaknesses, and areas for improvement.

Summary of proposed digital solutions: We present a summary of the recommended digital solutions tailored to your business, along with a cost/benefit analysis of the top three options. Additionally, we outline the high-level requirements for implementing these solutions.

Near- and long-term digital strategy: We develop a digital strategy that encompasses both short-term and long-term goals, ensuring alignment with your overall business objectives.

Implementation roadmap: We provide a roadmap that outlines the necessary steps, timelines, costs, and required capabilities for implementing the proposed digital solutions. This roadmap serves as a guide to successfully carry out the digital transformation journey.

By reimagining your business processes and leveraging the power of digital technologies, our plan aims to drive growth, efficiency, and competitiveness for your organization.

There are multiple steps involved in the loan request process, and program eligibility is just one of them.

Your business may be declined for various reasons, including not meeting BDC's creditworthiness criteria, such as having an unfavorable credit history.

Please keep in mind that even though the loan request is being made under CDAP, applicants must satisfy both the CDAP eligibility criteria and BDC's creditworthiness requirements in order to receive a loan offer.

Furthermore, since the CDAP zero-interest loan is part of a standard loan application, standard banking practices are followed. If your loan request is declined, it may have an impact on your credit score. This is a part of the consent you provide when applying for the loan.

It is important to understand that meeting the CDAP eligibility criteria alone does not guarantee loan approval, and your business's creditworthiness will be assessed based on established criteria.