Canada Small Business Financing (CSBF) Program

The CSBF Program, under the Canada Small Business Financing Act, can assist businesses in obtaining term loans of up to $500 000 to help finance fixed asset needs. The loans are made directly by a qualified lender (chartered banks, caisses populaires, Alberta Treasury Branches and most credit unions). Do not send loan applications to the Canada Small Business Financing Program Directorate. Small businesses must contact the participating lender of their choice.

Eligibility Criteria

Small businesses operating for profit in Canada, with gross annual revenues of $5 million or less.

Ineligible small business:

• farming businesses (Agriculture and Agri-Food Canada has a similar program for the farming industry);
• not-for-profit organizations;
• charitable or religious organization.

Summary

The Canada Small Business Financing (CSBF) Program seeks to increase the availability of loans for establishing, expanding, modernizing and improving small businesses in Canada.

How much financing is available?

Up to a maximum of $500 000* for any one business, of which a maximum of $350 000* can be used for purchasing or improving new or used equipment and for purchasing leasehold improvements or improving leased property where the borrower is a tenant.

*As of April 1, 2009.

How do I apply for a loan?

Financial institutions deliver the program. Industry Canada does not participate in making the decision to accept or refuse your loan application.

Discuss your business needs with a financial officer at any bank, caisse populaire, or credit union in Canada. The financial officer will review your business proposal and make a decision on your loan application. Once the decision is made to offer financing under the program, the financial institution will register the loan with Industry Canada.

How can loan proceeds be used?

Loans can be used for financing up to 90% of the cost of:

• purchasing or improving land, real property or immovables;
• purchasing leasehold improvements or improving leased property; or
• purchasing or improving new or used equipment.

Manitoba Contact(s):
The participating private-sector lender of your choice. 

National Contact(s):
For technical questions about the Act and inquiries from financial institutions:
Canada Small Business Financing Program
Industry Canada
5th Floor West
235 Queen Street
Ottawa, Ontario  K1A 0H5
Telephone: 613-954-5540
Fax: 613-952-0290
Toll-free (information): 1-866-959-1699
E-mail: CSBFA-LFPEC@ic.gc.ca
Web site: http://www.ic.gc.ca/eic/site/csbfp-pfpec.nsf/eng/h_la02855.html