Canada Small Business Financing Program: Who Qualifies and What You Get
Learn how small businesses in Canada can access government-backed loans for equipment and leasehold improvements.
This program provides government-backed loans to help small businesses pay for equipment or improvements to their rented business space.
Who it's for
This program is available to small businesses that have gross annual revenues of $10 million or less.
What you get
You can access loans specifically designed to cover the costs of purchasing equipment or making leasehold improvements to your business premises.
What it costs you
The cost of the loan depends on the interest rates set by your lender. To access this support, you must complete the application process through a bank.
The catch to know
It is important to remember that the government does not lend the money to you directly. Instead, the government provides a guarantee to your bank, but the bank is the entity that handles the loan.
How to apply
- Determine if your business meets the revenue requirements.
- Contact a bank to discuss your specific needs for equipment or leasehold improvements.
- Complete the loan application process directly with your chosen financial institution.
- Visit the official portal for more details: https://ised-isde.canada.ca/site/canada-small-business-financing-program/en