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The Canada Digital Adoption Program (CDAP) offers various grants and loans to help small businesses in Canada adopt new digital technologies and stay competitive in the digital age. In this article, we will discuss the eligibility criteria for CDAP loans and micro grants, including the requirements for a Digital Adoption Plan.
Eligibility for CDAP Loans
To be eligible for a CDAP loan, you must meet the following criteria:
- Completed Digital Adoption Plan: You must have completed a Digital Adoption Plan, which Gavamedia can help you do.
- CDAP Grant or Recognized Digital Adoption Program: You must have already received a grant under the CDAP or be part of another recognized digital adoption program and submitted it to CDAP.
- Business Revenues: If your business revenues were between $500,000 to $5 million, you qualify for a loan between $25,000 and $50,000. If your business revenues were over $5 million, you qualify for a loan between $25,000 and $100,000.
Eligibility for CDAP Micro Grant
If you don’t meet the eligibility criteria for a CDAP loan, you may still qualify for a CDAP micro grant. To be eligible for the micro grant, your business must meet the following criteria:
- Completed Digital Adoption Plan: You must have completed a Digital Adoption Plan.
- CDAP Participant: You must already be a part of the CDAP.
- Canadian-owned and for-profit: Your business must be Canadian-owned and for-profit.
- Consumer-facing: Your business must sell goods and services directly to end consumers.
- Employees or annual revenue: Your business must have at least one employee (other than the owner) or have had at least $30,000 in annual revenue in the most recent tax year.
- Commitment to digital adoption: You must commit to maintaining a digital adoption strategy for six months.
- Participate in follow-up surveys: You must agree to participate in follow-up surveys, share data about the experience, and have your business’s name published as a grant recipient.
Gavamedia’s Services: Upgrade Your E-Commerce
If you’re eligible for the CDAP micro grant, Gavamedia can help you upgrade your e-commerce website. We can develop a new e-commerce website for you or add new functionality to your existing site, such as online reservation/booking tools, online ordering systems, and electronic payment options.
The CDAP program offers a variety of grants and loans to help small businesses in Canada improve their digital capabilities. Whether you’re eligible for a loan or a micro grant, Gavamedia can help you create a Digital Adoption Plan and leverage these resources to enhance your business. Contact us today to learn more about our services and how we can help you succeed in the digital age.