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To access this program, all business owners must apply through a participating bank, credit union, or caisse populaire.

The Canada Small Business Financing Program provides competitive-rate loans up to $1 million in support of business expansion projects. Applicants of CSBFP are typically startups and early-stage businesses that would find difficulty being approved for loans that are provided directly by financial institutions. Because the risk of CSBFP investments are divided between financial institutions and the Government of Canada, traditional “high-risk” loans may be supported with greater ease.

Costs to Participate in the Canada Small Business Financing Program

Participating businesses should note the following cost associated with using CSBFP:

Registration Fees: To participate in the program, small businesses will be required to pay 2% of the loan’s total value. This can be financed as part of the loan.

Interest Rates: As determined by the financial institution, lenders may provide either a variable or fixed interest rate.

  • Variable: Lender’s prime rate +3%
  • Fixed: Lender’s single family residential mortgage rate +3%

Lender Fees: Depending on the lender you contact, they may have their own fees to establish the loan. These fees cannot be financed through the business’ loan.

Startup and Small Business Eligibility to Receive CSBFP Funding

To become eligible to receive Canada Small Business Financing Program funding, businesses should ensure that they:

  • Operate and hold assets within Canada;
  • Provide products or services to Canadian customers;
  • Are a for-profit company; and
  • Do not exceed $10 million in annual revenue.
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