The Government of Canada’s Canada Digital Adoption Program (CDAP) was designed to help Canadian businesses strengthen their digital capabilities and grow in today’s competitive tech-driven economy.

Through the Boost Your Business Technology Grant, eligible businesses can still access:

• Up to $15,000 to build a Digital Adoption Plan

• Up to $100,000 in interest-free financing from BDC (Business Development Bank of Canada)

• A wage subsidy of up to $7,300 to hire a youth employee to help implement your plan

1. Changes to the BDC 0% Interest Loan

As of December 1, 2023, the Business Development Bank of Canada has introduced changes to the interest-free loan connected to the Boost Your Business Technology stream of CDAP. These updates are intended to protect the integrity of the program and reduce long wait times for loan approvals.

Here’s what’s new:

• Businesses must now have a minimum of $500,000 in annual revenue based on their most recent fiscal year

• There is now a $200,000 cap per borrowing group. If multiple businesses share common ownership or financial ties, they are treated as one group for loan purposes and can receive a combined maximum of $200,000 across all applications

2. Changes to the Youth Work Placement Program

To make youth hiring more accessible for small and medium-sized businesses, CDAP and its delivery partner Magnet have made the following updates:

• The program is now open to all youth between the ages of 18 and 30, regardless of post-secondary enrollment

• The minimum 450-hour work requirement has been removed, giving employers more flexibility in structuring the placement

• Businesses can now apply for multiple youth placements

• An equity, diversity, and inclusion (EDI) target of 30% has been set for youth participants to ensure more representation from equity-deserving communities

Who Can Apply?

Your business may qualify if it meets the following criteria:

• Canadian-owned and for-profit

• Incorporated or registered as a sole proprietorship under Canadian law

• Employs between 1 and 499 staff

• Earned at least $500,000 in revenue (but no more than $100 million) in at least one of the past three fiscal years

For full details, you can refer to the CDAP program guide.

The Application Process

Getting started is simple. Contact us at Bayram Financial, and we’ll walk you through the entire process. From assessing your eligibility to setting up your CDAP account and helping with your application—we’ll take care of it all and maximize your chances of approval.

Common Questions About the New BDC Loan Criteria

Is the CDAP grant eligibility changing?
No, the grant criteria remain the same. The recent changes apply only to the loan portion. Over 95% of businesses that qualified for the grant already meet the updated revenue threshold for the BDC loan.

Do the new rules apply to applications submitted before December 1, 2023?
Yes. Any application still under review as of December 1 will be assessed using the new criteria, regardless of when it was submitted.

What is a “borrowing group”?
A borrowing group includes businesses with overlapping ownership, shared finances, or joint security arrangements. For example, if one individual owns three separate restaurants under different brands, they’re considered one borrowing group and can access up to $200,000 in total CDAP-related loans across all businesses.

To see if your business qualifies, you can use the CDAP online assessment tool.

Additional Details on the Youth Work Placement Program

The youth hiring stream of CDAP had low participation in its original format, so Magnet and CDAP have revised it to improve access and impact.

The key updates include:

• Expanding eligibility to all youth aged 18–30, regardless of education level

• Eliminating the 450-hour minimum so businesses can determine the right schedule and scope

• Allowing more than one youth hire per business, each with their own $7,300 subsidy

• Setting a 30% diversity target, with a focus on representation from underrepresented communities

More Answers About Youth Placement Changes

Can a business apply for multiple youth placements?
Yes. There’s no limit. For example, if you hire five eligible youth, you could receive $36,500 in total subsidies.

Will Magnet notify businesses of these updates?
Yes. Magnet and CDAP’s communications teams are preparing outreach to inform current and past grant recipients of the program changes.

Can past recipients still apply for new youth placements?
Absolutely. Even if you’ve used the wage subsidy before, you’re eligible to apply again under the updated structure.

What’s the official term for the Magnet component now?
While the CDAP site uses terms like “youth placement” and “subsidized employee” interchangeably, the most widely used term is “youth work placement.”

Let Bayram Financial Guide You

At Bayram Financial, we specialize in helping business owners successfully access and benefit from government programs like CDAP. From assessing your eligibility to submitting your claim, our team manages the entire process—saving you time and improving your chances of approval.

Let’s make sure your business takes full advantage of the support available. Reach out today and discover how CDAP can work for you.