RBC and BDC are partnering to expand access to capital for Canadian entrepreneurs, offering up to $500,000 in funding through a new referral-based loan program.
In a move set to benefit thousands of small business owners across the country, Royal Bank of Canada (RBC) and the Business Development Bank of Canada (BDC) have announced a strategic partnership aimed at improving access to capital for Canadian entrepreneurs. Through this initiative, eligible Canadian businesses can now secure up to $500,000 in financing under BDC’s Business Accelerator Loan Program, with the loans delivered directly through RBC and backed by a BDC guarantee. The collaboration leverages the strengths of both institutions to streamline financing pathways for early-stage and growth-focused businesses.
This new arrangement is particularly significant at a time when many entrepreneurs face funding challenges in a shifting economic climate. RBC, Canada’s largest commercial bank, will now have the ability to refer eligible business clients directly to BDC for specialized financing solutions. These include long-term loans and complementary funding options that can support everything from working capital needs to business expansion and innovation.
By combining RBC’s national reach and strong relationships with Canadian businesses with BDC’s deep expertise in entrepreneurship and tailored financial products, the partnership promises to fill key financing gaps.
How the partnership works
Through this integrated approach, RBC’s relationship managers will be able to identify businesses with specific financing needs that fall outside of RBC’s traditional offerings. These clients can then be referred to BDC, which will assess their eligibility for a variety of flexible financing options. BDC will handle the loan application and management process, ensuring that businesses receive support aligned with their growth goals.
The initiative will focus on enhancing capital accessibility for:
- Early-stage and growth-oriented businesses looking to scale
- Entrepreneurs from underrepresented communities, including women, Indigenous, Black, and immigrant business owners
- Companies investing in innovation, digitization, and sustainability
- Businesses needing longer repayment terms or more flexible financing structures
The collaboration reflects a shared goal between RBC and BDC to remove barriers to growth and ensure Canadian entrepreneurs have the financial tools necessary to thrive.
Strengthening Canada’s entrepreneurial ecosystem
This partnership represents a proactive step toward supporting a more inclusive and resilient economy. As BDC CEO Isabelle Hudon emphasized, "Collaborating with RBC allows us to reach even more entrepreneurs who need financing solutions that support their ambitions." Dave McKay, President and CEO of RBC, echoed the sentiment, noting that the bank is “committed to supporting Canada’s entrepreneurs by helping them access the capital and advice they need.”
Key benefits for entrepreneurs include:
- Streamlined access to capital through RBC-to-BDC referrals
- Broader availability of longer-term and flexible financing solutions
- Targeted support for equity-deserving business owners
- Complementary services and advisory support from both institutions
Both RBC and BDC have long histories of supporting small business innovation and growth. This partnership now brings their complementary strengths together in a more intentional way, creating a clearer path for Canadian entrepreneurs to access the right capital at the right time.
Looking ahead
As this collaboration rolls out nationally, it is expected to enhance the financial landscape for Canadian small businesses and solidify Canada’s reputation as a country that champions entrepreneurship. By improving access to capital and supporting business resiliency, the initiative helps build a foundation for long-term economic growth and innovation.
This partnership also underscores the importance of cross-sector collaboration in addressing the real-world challenges entrepreneurs face—from rising interest rates and inflationary pressures to scaling digital operations and hiring talent. With this initiative, both RBC and BDC are setting a strong precedent for how financial institutions can work together to empower the next generation of Canadian business leaders.
For more information on BDC's Accelerator Loan Program and how to apply, please visit: RBC Business Accelerator Loan Program.