Boost Your Business Technology Grant

The Canada Digital Adoption Program (CDAP)

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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 dedicated to assisting small to medium-sized businesses in establishing an online presence, enhancing their e-commerce operations, and digitizing their business processes. CDAP provides financial support and resources for businesses while creating training and employment opportunities for 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. Moreover, the program delivers customized digital services to enhance your business’s digital transformation journey.

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

To apply, please have the following ready:
• 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

• Unlock up to 100K interest-free loan, repayable over a 5 years period starting from 13th month.
• Access a $7,300 subsidy for wages, providing the flexibility to hire multiple candidates.

Check My Eligibility

If you are uncertain about your eligibility, please complete the CDAP Grant assessment tool to determine if you qualify for the Boost Your Business Technology Grant.

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 business successfully qualifies with the government pre-approval, choose Synic Software as your CDAP advisor to develop and implement a 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!

Disclaimer:

There have been some reported misunderstanding of the program. For all individuals or businesses referred to or connected by a business entity or individual purporting to represent Synic Software who are uncertain about any aspect of the program, we kindly request that you contact us directly at [email protected] for comprehensive clarification. We also recommend that you thoroughly review the program guidelines prior to submitting your application to ensure a clear understanding of the program’s scope and requirements.

Boost Your Business and Start Your Application Process Now!

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