D-BOX Technologies, a provider of haptic and immersive entertainment experiences, closed a loan with the National Bank of Canada in connection with the Highly Affected Sectors Credit Availability Program (HASCAP) offered by the Business Development Bank of Canada (BDC).
The loan is a $1 million non-revolving credit facility based on a 10-year straight line amortization period with an interest rate of 4% and a maturity date of Sept. 7, 2024. The proceeds of the HASCAP loan will be used for working capital needs to continue to support D-BOX’s commercial growth initiatives. Repayment terms for the HASCAP Loan are interest only for the first year, and principal plus interest for the remaining years. The HASCAP Loan is secured by first-ranking hypothec and security interests on all assets of the corporation and its U.S. subsidiary and is guaranteed by the BDC.
