Small business loan
Implemented by the federal government, the Canada Small Business Financing facilitates access to bank financing for Canadian business with a total sales below $5 million.
Characteristics | |
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Maximum amount | $250,000 $ or 90% of the acquisition cost of the financed asset |
Eligible assets | Acquisition costs for land, equipment, and capital assets as well as renovations and leasehold improvements |
Ineligible assets | Inventory, maintenance expenses, share purchases, franchise fees, permits/licences, debt refinancing, working capital. |
Amortization | Up to a maximum of 10 years |
Special features | Registration fees of 2% of the loan levied by the government; these may be added to the financed amount, subject to the maximum amount ($250,000) |