Artificial intelligence, automation, and digital technologies are now accessible to small and medium-sized businesses. When chosen wisely, these solutions can reduce repetitive tasks, speed up operations, improve productivity, and boost competitiveness. <\/p>\n
The problem? Between choosing the right technology, evaluating costs, and implementing the solution, it can be hard to know where to start\u2014and, most importantly, how to finance the project. <\/p>\n
This is precisely where the Business Development Bank of Canada\u2019s (BDC) LIFT program can serve as a valuable tool. Launched in 2026, the program aims to help more than 1,000 Canadian small and medium-sized enterprises (SMEs) adopt cutting-edge technologies, including artificial intelligence, digital tools, cybersecurity, automation, and robotics. <\/p>\n
And the environment is ripe for action: according to BDC, only 30% of Canadian SMEs were using AI in 2025, while those that did were 24% more productive than those that did not.<\/p>\n
The LIFT program essentially consists of two components<\/strong>, depending on the type of investment being considered.<\/p>\n Part 1 \u2014 Funding Digital Transformation and Artificial Intelligence<\/strong><\/p>\n This program is intended for companies that wish to modernize their systems and expand their digital capabilities.<\/p>\n The funding may be used, in particular, to establish:<\/p>\n What sets this program apart is that it combines consulting services with financing. BDC Consulting assesses the company\u2019s readiness, helps establish a roadmap, and develops an AI or digital transformation plan. This plan is required to obtain financing. The BDC loan is then used to implement the plan\u2019s recommendations. <\/p>\n Part 2 \u2014 Financing Automation and Digital Equipment<\/strong><\/p>\n The second component is aimed at companies that want to increase their productivity through automation and smart equipment.<\/p>\n Some examples include:<\/p>\n Funding may also cover costs directly related to the installation, integration, and implementation of the technology investment, subject to project review and approval.<\/p>\n The criteria vary depending on the program track selected.<\/p>\n For the Productivity component, eligible sectors include, among others, manufacturing, transportation and warehousing, wholesale trade, construction, agriculture, forestry, hunting and fishing, architectural and engineering services, and mining and quarrying.<\/p>\n It should also be noted that certain exceptions apply to the sector-specific criterion for the AI component, particularly for certain providers of commercial space, hotels, and trucking companies with fewer than 10 vehicles.<\/p>\n Eligible companies can receive funding ranging from $25,000 to $5 million. When the technology solution is implemented by a Canadian provider, the program may also offer preferential terms: up to a 50% discount on consulting services and an interest rate of up to the BDC\u2019s base rate minus 4%, subject to applicable conditions. <\/p>\n Another interesting point: depending on the terms of the financing, the repayment of principal may be deferred for up to two years.<\/p>\n No, and that’s precisely one of the program’s attractions.<\/p>\n For the Digital Transformation and AI component, BDC Consulting can help the company assess its digital maturity, identify the most relevant opportunities, and develop a roadmap prior to making an investment.<\/p>\n In other words, the LIFT program is not just for companies that have already chosen a solution. It may also be relevant for an SME that knows it needs to modernize but is still trying to determine where to invest to get the best return on investment<\/strong>. <\/p>\n The approach proposed by BDC is relatively simple:<\/p>\n\n
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Is your small business eligible for the LIFT program?<\/strong><\/h3>\n
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\n <\/td>\n Digital Transformation and AI<\/strong><\/td>\n Productivity and Equipment<\/strong><\/td>\n<\/tr>\n \n Minimum annual income<\/strong><\/td>\n $1 million<\/td>\n $5 million<\/td>\n<\/tr>\n \n Eligible Sectors<\/strong><\/td>\n All sectors, subject to applicable exceptions<\/td>\n Specified sectors<\/td>\n<\/tr>\n \n Plan Required<\/strong><\/td>\n Yes, prepared by BDC Consulting Services<\/td>\n Yes, existing or developed with the assistance of BDC<\/td>\n<\/tr>\n \n Canadian supplier<\/strong><\/td>\n Yes, allows you to take advantage of favorable rates<\/td>\n Yes, allows you to take advantage of competitive rates<\/td>\n<\/tr>\n \n Objective<\/strong><\/td>\n AI, data, digital tools, cybersecurity, enterprise systems<\/td>\n Automation, robotics, and smart equipment<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n What types of financing can the BDC provide under the program?<\/strong><\/h3>\n
Do you already need to know which technology to buy?<\/strong><\/h3>\n
How does the process work?<\/strong><\/h3>\n