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ARTICLE · 01 APRIL 2021

Highly Affected Sectors Credit Availability Program (HASCAP): New Financial Support Program For Most Highly Affected Sectors

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

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On January 26, 2021, the federal government announced the launch of the Highly Affected Sectors Credit Availability Program (HASCAP), a new program to provide guaranteed...

CanadaMedia, Telecoms, IT, Entertainment
Silvana D'Alimonte
Silvana D'Alimonte
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On January 26, 2021, the federal government announced the launch of the Highly Affected Sectors Credit Availability Program (HASCAP), a new program to provide guaranteed, low-interest loans between C$25,000 to C$1-million per legal entity to a maximum of C$6.25-million for related legal entities to Canadian businesses that were heavily impacted by COVID-19, including those in the hospitality industry.

Although HASCAP was created to provide support to the travel, tourism, hospitality, and arts and culture sectors in particular, it is not limited to certain sectors and is available to businesses in all sectors that meet the HASCAP eligibility criteria.

HASCAP is now available to business owners at participating financial institutions. Interested businesses should contact their primary lender to get more information and to apply. Businesses cannot apply at more than one financial institution. The deadline for submitting HASCAP applications is June 30, 2021.

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