Helping small businesses get loans
By sharing risk with lenders, the Canada Small Business Financing Program makes it easier for small firms to obtain loans from financial institutions. Small firms have gotten nearly 56,000 loans totaling $10 billion in the last ten years. Eligibility Small enterprises or start-ups with gross yearly revenues of less than $10 million in Canada. Farming enterprises are not eligible for this programme (for a similar programme for the farming industry, visit the Canadian Agricultural Loans Act Program) Available financing A single borrower can borrow up to $1,000,000, of which no more than $350,000 can be used for leasehold improvements or improving leased property, as well as purchasing or improving new or used equipment. How to apply for a loan The programme is delivered by financial institutions, and they are exclusively responsible for loan approval. Consult a financial officer at any bank, caisse populaire, or credit union in Canada about your company needs. Your loan application ...