Canada Small Business Financing Program

Description

The Canada Small Business Financing Program is a loan program in collaboration with financial institutions. 

Loans can be used to finance the cost of:

  • purchasing or improving land and buildings used for commercial purposes
  • purchasing new or existing renovations to premises occupied by the business as a tenant
  • purchasing or improving new or used equipment (including commercial vehicles)
It is up to the borrower and lender to negotiate an appropriate amount of financing. The maximum loan amount a borrower can access under this program is $1 million, of which no more than $350,000 can be used to finance the purchase or improvement of equipment and the purchase of leasehold improvements.

Special Requirements

Most start-ups and existing for-profit small businesses in Canada with gross revenues of $10 million or less are eligible to apply for loans under this program. Such businesses can be corporations, sole proprietors, partnerships or cooperatives.

Not eligible under this program are farming businesses, not-for-profit organizations, or charitable and religious organizations.

Last updated: August 21, 2017