Archived — How to finance small business start-ups and expansions
Canada's small businesses are engines for job creation that boost economic growth.
The Canada Small Business Financing Program encourages participating financial institutions to increase the availability of loans to small businesses seeking to establish themselves or expand. There are many reasons for small business owners to consider the program:
- lower collateral required;
- reasonable interest rates; and
- access through financial institutions across Canada.
Financing for small businesses
Most for-profit small businesses starting up or operating in Canada are eligible for these loans, as long as their estimated gross revenues do not exceed $5 million. To apply for a loan, you must present your business proposal directly to a participating chartered bank, credit union or caisse populaire.
Financing is available for purchasing or improving equipment and commercial buildings. A business can access up to $500,000 of which no more than $350,000 can be used for equipment and leasehold improvements.
Successful small business financing program
Since its creation in 1999, the Canada Small Business Financing Program has assisted over 135,000 businesses with loans totalling about $1 billion each year. The Government of Canada helps small businesses start up and expand through this program because it believes that Canadian small businesses are key to the strength of our economy and are essential in creating jobs and building economic growth.
Need financing for your small business?
Visit the interactive map or call toll-free at 1-866-959-1699 to find participating lenders near you.
- Date modified: