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The Canada Digital Adoption Program (CDAP)
In the 2021 Budget, the Government of Canada introduced the Canada Digital Adoption Program (CDAP), a $4 billion initiative aimed at assisting businesses in establishing an online presence, enhancing their e-commerce operations, and digitalizing their business processes. CDAP offers financial support and resources for businesses, while also creating training and employment opportunities for the young Canadians.
CDAP offers access to interest-free loans of up to $100,000 from BDC, specially tailored for strategic investments. It also provides a substantial wage subsidy of $7,300 from BDC, facilitating versatile hiring strategies. Additionally, the program delivers customized digital services to enhance your digital capabilities.
Programs Details
Eligibility
In one of the previous three fiscal years, your business has met the following criteria:
- Achieved a minimum revenue of $500,000 CAD
- Have 1 or more employees
Deadline
- CDAP program duration: Three years
- Application timeline: Open until 2025
Application Process
- Provide Articles of incorporation document
- A void cheque from the business bank account into which the funds should be deposited
- Access to your MyBusiness CRA login
Client Benefits
- Up to $100K interest-free loan (repayment over 5-years from month 13)
- $7300 Wages Subsidy (you can hire multiple candidates)
The Process
- Synic offers step-by-step guidance on the direct application process through the government's website (typically taking around 40 minutes). The government may require 4-5 business days to pre-qualify your business.
- After your company successfully achieves government pre-qualification, we will facilitate your connection with our certified CDAP consultant, who will then craft your personalized Digital Adoption Plan.
- The government commits to a 30-day approval timeline, which you will receive an approval email from them. This email will include a link for you to apply for the interest-free loan, ranging from $50,000 to $100,000, offered by BDC, as well as the $7,300 wage subsidy for youth hiring.
- Following approval, the government will deposit 90% of our consultancy fees, up to a maximum of $15,000, into your account. Typically, this deposit occurs within 2-3 business days upon receiving the approval email.
- Your business is now ready to proceed with separate applications for the BDC interest-free loan and the wage subsidy!
Boost Your Business and Start Your Application Process Now!
