BDC LIFT application preparation checklist
Check the published requirements and gather financial, project and supplier information before discussing LIFT with BDC.
Check the published requirements
For digital transformation and AI, BDC lists Canadian-based businesses with at least $1 million in revenue, a strong financial foundation and credit history, demonstrated profitability, an eligible digital investment, and completion of a BDC Advisory Services Digital Plan. Meeting the revenue threshold alone does not qualify a borrower.
For productivity and equipment, the revenue floor is $5 million. The business must be in a listed sector, have an up-to-date productivity plan, demonstrate financial capacity and propose an eligible equipment or automation investment. The LIFT overview compares the two paths.
Prepare one file with six parts
- Business: legal name, ownership, Canadian operations, industry and recent revenue.
- Finances: recent financial statements, current results, debts, cash commitments and the repayment capacity of the proposed investment. Ask BDC for its required document list.
- Problem: a baseline such as calls missed, hours spent, turnaround time or error rate.
- Scope: systems involved, data availability, security obligations, staff responsibilities and an implementation boundary.
- Budget: supplier quotes, recurring costs, contingency, your own contribution and any other public support.
- Evidence of success: acceptance criteria, a measurement period and a fallback process if the system does not perform.
Questions for the BDC advisor
- Which path and which costs match this project?
- Does the proposed supplier and technology meet the Canadian sourcing requirements?
- What plan must be completed and who delivers it?
- What are the quoted rate, fees, security and repayment terms?
- Can any work or spending start before approval?
- How do other contributions or tax credits affect this financing?
Use this checklist to prepare a conversation, not as an automated eligibility decision. No website assessment can replace BDC’s review. Get written confirmation before relying on a financing amount or contracting against it.