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Canadian Small Business Finance Loan
A good start is important
This is a collaboration between the Federal Government and financial institutions to help small businesses get off the ground or support established small businesses looking to grow and expand.
Use this loan for:
Purchasing land or buildings used for commercial purposes
Purchasing new or used equipment
Financial costs of new or existing leasehold improvements, including renovations to a leased property by a tenant
The registration fee for the loan
Items such as goodwill, working capital, inventories, franchise fees, or assets that a holding company acquires aren’t eligible for financing
2% registration fee, which can be financed as part of the loan
Normal lending fees will apply
You can get a maximum loan of $1 million under the Canadian Small Business Financing Program (CSBFP). No more than $350,000 of that can be used to finance equipment purchases or improvements, or purchase leasehold improvements.
Corporations, sole proprietorships, partnerships and co-operatives in Canada with gross revenue under $10 million
Charitable and religious organizations aren’t eligible under this program