• The Canada Small Business Financing Loan can provide a Canadian business with $250,000 in financing for leasehold improvement, equipment, and land or business premises.
• With assistance from the federal government, businesses can support their financing requirements without using personal assets as security.
• Term loans extend financing assets not normally covered by traditional financing options, for example, lease improvements.

What else do I need to know?

• Financing can be used to cover up to 90% of the eligible costs related to leasehold improvements and equipment.
• If the loan is for the purchase of premises, 50% of the floor space must be for your business activity.
• Current fiscal year gross revenues must not exceed $5,000,000.
• The maximum value of all CSBF Loans an independent small business may have outstanding with all lenders cannot exceed $250,000.
• Applications must be submitted with a business plan which includes financial statements or projections.
• Eligible purchases made within the past six months can be financed.
• Loan terms are generally 5-7 years at fixed or variable interest rates.
• Personal guarantees are required but are limited to a maximum of 25% of the loan.
• A one-time up front government registration fee of 2% of the loan amount is payable to the government and can be added to the loan principal.
• An annual administration fee equal to an annual rate of 1.25% is payable to the government and will be included in your loan interest rate.

For more information, call us at 1(888)798-4411.