The Canada Small Business Financing Program makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders. The maximum loan amount for a borrower is $1.15 million.
• Up to a maximum of $1,000,000 for term loans for any one borrower, of which no more than $500,000 can be used for purchasing leasehold improvements or improving leased property and purchasing or improving new or used equipment and of that amount, a maximum of $150,000 could be used for intangible assets and working capital costs.
• Up to a maximum of $150,000 for lines of credit.
Financial institutions deliver the program and are solely responsible for approving the loan. For more information, download their PDF pamphlet (bilingual pamphlets here) or click here to find a lender near you.
Want to learn more? Visit the Canada Small Business Financing program website here.