CCEDNet’s Response to the Business Development Bank of Canada (BDC) 2022-23 Legislative Review

May 25, 2023

The Business Development Bank of Canada (BDC), a financial Crown corporation wholly-owned by the Government of Canada, is Canada’s only bank exclusively focused on providing support to Small and Medium-sized Enterprises (SME’s) and entrepreneurs. As part of its mandate, the BDC is required to operate as a complementary lender in the market, offering loans, investments, and services that supplement or complete services available from private sector service providers.

The BDC Act requires that a review of the legislation be conducted on a regular basis. As part of the 2022-23 legislative review process, the BDC encouraged stakeholders to read a consultation paper and to complete a consultation survey.

The BDC has such a tremendous potential role to play in fostering community economic development across Canada. That’s why CCEDNet responded to the survey, encouraging the Bank to ensure that “social inclusion, economic equity, and justice for all leads its lending, investing, advisory services, and business practices.”

Read CCEDNet’s full response below. You can also read the response submitted by Buy Social Canada and the Social Enterprise Council of Canada (SECC).

CCEDNet’s response to the BDC survey is part of our public policy and government relations work. To learn more about these efforts, visit our People-Centered Economy Group page.