Canada Small Business Financing Program

From the CRA site:

The Canada Small Business Financing Program makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders.

Term loans can be used to finance the following costs:

  • purchase or improvement of land or buildings used for commercial purposes
  • purchase or improvement of new or used equipment
  • purchase of new or existing leasehold improvements, that is, renovations to a leased property by a tenant
  • intangible assets and working capital costs

Lines of credit can be used to pay for working capital costs, that is, day-to-day operating expenses of the business.

The maximum loan amount for any one borrower is $1.15 million.”

As an SMB owner, this sounds terrific, doesn’t it? …not so fast.

There’s a link on that page, entitled Toolbox for Lenders, that specifies qualification criteria.

Net: if you can’t qualify for a bank loan on your own, this program is unlikely to help you.

Talk to us: we can help provide the interim financing you need.