ICT stands for information and communications technology.
And much of the productivity problem in Canada can be attributed to insufficient investments in technology, says Jean-René Halde, BDC President and Chief Executive Officer. "We now know that ICT has a very real impact on small business productivity, innovation and competitiveness."
So the government, through the Business Development Bank of Canada (BDC) has earmarked $200 million for loans to help entrepreneurs gear up with information and communications technology (ICT).
You don't have to be a BDC client or a small business with a certain number of employees to apply for one of these loans; applications from small businesses that are one-person or home office operations are welcome too.
The BDC is fast tracking the loan applications; they claim on their website that applicants will be contacted within two business days of receipt of their applications.
Use the BDC's ICT financing for:
- Hardware (servers, network, telephony, computers and accessories)
- Software (ERP, CRM, human resources, supply chain, finance and accounting)
- Services (IT planning, strategy, security)
- Internet services (online sales, marketing, social media)
See details and apply online on the BDC website (if you are seeking a loan of up to $50,000).
If your small business needs more than $50,000, you can call the BDC at 1 877-BDC-BANX (232-2269) or contact your nearest BDC business centre.
And whether you're looking for an ICT related loan or not, you may find it profitable to visit the BDC's Smart Tech site.
It presents a whole series of modules on using the tools of technology to boost your business, including an ICT Diagnostic Tool that will show you which technologies will best help your small business, an Internet Strategies Tool, advice on how to select the right software and more.
More on Canadian Small Business Loans
- The Canada Small Business Financing Program
- How to Get a Small Business Loan
- 10 Sources of Canadian Small Business Loans
Image (c) Paul Eekhoff / Getty Images
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