Updated May 2026 · Verified against Business Development Bank of Canada (BDC) guidelines
✨ New Program Loan Est. 2026
Loan Federal Active

BDC Steel, Aluminum and Copper Industries Support Program

Business Development Bank of Canada (BDC)
Maximum Funding
$2,000,000 – $50,000,000 per business...
Ongoing
Visit Official Program →
Difficulty
Moderate
Payment
Loan
Trend
New Program
First-Timers
—
Co-Funding
Varies
BDC Steel, Aluminum and Copper Industries Support Program provides up to $2,000,000 – $50,000,000 per business (up to 36-month term at preferential rates). Provides working capital loans of $2M to $50M at preferential interest rates to Canadian manufacturers and exporters of products containing steel, aluminum, or copper that have been materially impacted by U. Applications are accepted on an ongoing basis. (As of May 2026, verified against Business Development Bank of Canada (BDC) program guidelines)

Eligibility & Details

What this program funds and who can apply

Free

Program Description

Provides working capital loans of $2M to $50M at preferential interest rates to Canadian manufacturers and exporters of products containing steel, aluminum, or copper that have been materially impacted by U.S. tariffs. Announced May 4, 2026 as part of a $1B BDC lending envelope, the program is designed to relieve immediate cash flow pressure for businesses that were viable before tariffs were implemented.

Eligibility Requirements

  • Canadian-based business (operating in Canada)
  • Manufactures and exports products made of, or mostly made of, steel, aluminum, copper, or fabricated products from these metals
  • Minimum annual revenue of $5,000,000
  • Minimum 3 years in operation
  • Must export to the United States
  • Must demonstrate material negative impact on operations from U.S. tariffs on steel, aluminum, or copper
  • Must have been commercially viable prior to implementation of U.S. tariff measures
  • Working capital required for operational purposes including regularly scheduled debt or lease payments
Provinces
All Provinces
Industries
Manufacturing Automotive Construction Natural Resources Agriculture
Business Stage
Growth Expansion Mature

Quick Assessment

Difficulty
Moderate
Competition
Low
Est. Hours
20h
First-Timer
Not rated

Funding Details

Amount
$2,000,000 – $50,000,000 per business (up to 36-month term at preferential rates)
Type
Loan
Level
Federal
Deadline
Ongoing

Program Scorecard

Competition, effort, and approval at a glance

Hybrid
Competition
Low
Effort
~20 hours
Approval
Varies
Accessibility
--/5
Competition
--/5
Approval Rate
--%
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What's in this Playbook

Everything you need to win BDC Steel, Aluminum and Copper Industries ... — $19

Not a marketing summary. The actual checklist, intel, and stack strategy reviewers look for.

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How to Win

Insider tips, common pitfalls, and what successful applicants look like

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Insider Tip

BDC is acting as a lifeline, not a cure-all — this loan buys time while businesses adapt. Apply early as the program may be modified as market conditions evolve. Gather clear documentation of your tariff exposure (forward contracts, configured tooling that limits your ability to pivot suppliers) to strengthen your case. BDC notes companies with already-signed forward contracts are particularly well-positioned. The dedicated application URL is bdc.ca/metals.

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Rejection Pitfalls 6

  • Annual revenue below $5M minimum
  • Less than 3 years in operation
  • Business is not a manufacturer or exporter of steel, aluminum, or copper products
+3 more pitfalls
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Success Profile

A mid-to-large Canadian steel fabricator, aluminum parts manufacturer, or copper wire/pipe producer with $5M+ revenue that exports to the U.S. and has documented cash flow strain from tariff-driven cost increases. Forward contracts already signed with U.S. buyers, tooling configured for U.S. specs, and limited short-term ability to pivot to new suppliers or markets.

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Evaluation Criteria

BDC assesses applications on: (1) confirmation of Canadian base and U.S. export activity, (2) minimum $5M revenue and 3 years in operation, (3) documented material impact of U.S. steel/aluminum/copper tariffs on cash flow and operations, (4) evidence of pre-tariff commercial viability (profitability, contracts, orders), and (5) creditworthiness and ability to service loan over 36-month term. Standard BDC credit analysis applies alongside tariff-impact assessment.

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6 reasons applications get rejected, what winners look like, and exactly what reviewers score on
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Application Playbook

Step-by-step process, required documents, and expenses

Premium 6 steps 6 docs

Application Steps

1 Submit online loan request Visit bdc.ca/metals and submit a basic online loan request with your business information, revenue size, and description of tariff impact.
2 BDC callback A BDC representative will call within 48 hours to discuss your situation, project details, and required documentation.
3 Submit financial documentation Provide 3 years of financial statements, recent cash-flow analysis, organizational chart, tariff-related documentation, and borrowing-based compliance certificate.
4 Credit assessment BDC conducts credit and tariff-impact assessment. Decision timeline typically 2-4 weeks from complete application.
5 Receive loan offer BDC delivers a tailored loan offer specifying amount, term (up to 36 months), and interest rate. Review and accept.
6 Funds disbursed Upon signing loan agreement, working capital funds are disbursed to your account to address immediate operational cash flow needs.

Required Documents 6

✓ Organizational chart
✓ 3 years of financial statements
✓ Recent financial statements with cash-flow analysis
✓ Borrowing-based information compliance certificate
✓ Documentation of tariff-related impact (purchase orders, contracts, cost analysis showing tariff exposure)
✓ Evidence of pre-tariff viability (historical profitability, forward contracts)

Eligible Expenses 6

  • Working capital for day-to-day operational needs
  • Regularly scheduled monthly debt payments
  • Lease payments for equipment and facilities
  • Accounts payable and supplier payments
  • Payroll for ongoing operations
  • Cash flow bridge while transitioning supply chains or markets

Ineligible Expenses 4

  • New capital expenditures and equipment purchases (working capital only)
  • Equity investments or shareholder distributions
  • Debt repayment beyond regularly scheduled monthly payments
  • Activities not related to tariff-impacted operations

Intake Periods

Continuous intake with no announced end date as of May 2026.

Deadline Notes

Active intake as of May 2026. No announced end date. Program may be modified as tariff landscape evolves — apply promptly as BDC has indicated it will adapt solutions over time.

Open Application Portal →

Ineligible Organizations

  • Non-manufacturers (distributors or retailers with no manufacturing activity)
  • Businesses with less than $5M annual revenue
  • Businesses operating for less than 3 years
  • Businesses that do not export to the United States
  • Businesses not materially impacted by U.S. tariffs on steel, aluminum, or copper
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Funding Stack Strategy

Compatible programs, clawback risk, and combined funding potential

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Compatible Programs

BDC Pivot to Grow Loan Regional Tariff Response Initiative (RTRI) Export Development Canada (EDC) credit insurance SR&ED Tax Credit
Combined Funding Potential See your total funding potential

Clawback Risk

Not-applicable Risk

This is a loan product — no clawback; repayment obligations are contractual. Default triggers standard lending remedies under the loan agreement.

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See your total funding potential across 4 programs
Stacking amounts, clawback details, government stacking limits, and tax implications
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How BDC Steel, Aluminum and Copper Industries ... Compares

Side-by-side with similar programs

Free
Program Amount Difficulty Payment Deadline
BDC Steel, Aluminum and Copper Indust... $2,000,000 – $50,000,000 Moderate Loan Ongoing
BDC Pivot to Grow $100,000–$5,000,000 Moderate Advance Payment Ongoing
Regional Tariff Response Initiative (... Up to $1,000,000 Moderate Reimbursement Ongoing — intake periods...
Strategic Response Fund (formerly Str... Up to $50 million Hard Mixed (Advance + Reimb.) Ongoing — continuous...
CanExport SMEs Up to $50,000 Moderate Mixed (Advance + Reimb.) Next deadline: May 29,...

Related Programs

Other programs you might be eligible for

Free
Tax Credit

Ontario Innovation Tax Credit

Up to 8% tax credit · Provincial
 Tax Credit

Quebec R&D Tax Credit (CRIC — Research, Innovation and Commercialization)

20-30% tax credit (CRIC) · Provincial
 Program

Export Development Canada (EDC) Financing

Varies · Federal

Frequently Asked Questions

Quick answers to the questions founders most often ask about BDC Steel, Aluminum and Copper Industries ...

Free
Is this a grant or a loan?
A loan — fully repayable over up to 36 months at preferential interest rates. It is not a non-repayable grant.
What's the minimum revenue to qualify?
$5,000,000 annual revenue is the minimum. Businesses below $5M should consider BDC's Pivot to Grow program or regional tariff response initiatives instead.
Do I need to export to the U.S. to qualify?
Yes. The program specifically targets businesses that manufacture and export steel, aluminum, or copper products to the United States and have been directly impacted by U.S. tariffs.
How quickly can I access funds?
BDC targets a callback within 48 hours of your online request. Total process from application to funds typically 2-4 weeks.
Can I use this alongside the Pivot to Grow loan?
Potentially yes, if for distinct purposes. Both are BDC programs but serve different industry scopes. Discuss with your BDC representative.

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