Canada Small Business Financing Program
Receive up to $1,000,000 in Loan Support.
The Canada Small Business Financing Program helps Canadian small businesses secure loans by sharing risk with lenders, therefore making it easier to get loans from financial institutions. This program is offered through Innovation, Science, and Economic Development Canada and interested businesses can apply directly through their Canadian financial institution of choice.
Canada Small Business Financing Program
Amount of Funding
Successful applicants may receive the following:
- Access up to a maximum of $1,000,000 for any one borrower;
- No more than $350,000 may be used for purchasing/improving a leasehold or new/used equipment;
- Financial institutions are entirely responsible for approving the loan;
- Interest rates determined by financial institution and may be fixed or variable
Canada Small Business Financing Program
Amount Eligible Applicants
Successful applicants will meet the following criteria:
- Successful applicants should be small businesses or startups in Canada with $10 million or less in gross annual revenues; and
- Farming businesses are not eligible for this program.
Canada Small Business Financing Program
Eligible Activities
Successful activities will meet the following criteria:
- Eligible activities may be purchasing or improving land or buildings for commercial reasons;
- Purchasing or improving equipment; and
- Purchasing leasehold improvements such as renovations to a leased property.
Funding may not be used for activities such as:
- Performing goodwill;
- Stoking working capital;
- Increasing inventory;
- Paying franchise fees; and
- Executing research and development.
Canada Small Business Financing Program
Program Deadline
This program has an open intake with no mentioned deadline.
